The latest announcement confirms the fears I expressed many months ago about these convertible loans being used to transfer a major portion of ownership to others. It shows that some players have a huge interest in driving the share price low and keeping it there.
Imagine agreeing to lend money when the share price is around $4.00 and rising on the basis that you can convert the loan to equity or be repaid. Now that the share price has more than halved you have the potential to get a sizeable share of the company.
Oh and by the look of it, a similar loan facility was issued earlier this week.
Looks like the prize has been stolen while Nero fiddles. Sorry for the non-greek analogy! Shareholders come last in this business model!
Thank god I got feed up by the shananagans months back and leapt ashore with some profits.
CMR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
