ISN 9.09% 6.0¢ isonea limited

new ball game - otc market

  1. 521 Posts.
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    It will take a few days for things to become operational on the OTC market. I spoke to someone today who has an account at Fidelty who called them to place an order. He was told that they cannot take an order because they have yet to set up the code (new stock) on their system.
    Within the next couple of days most of the larger broking houses will be able to transact in Isonea shares.

    As many institutional and large investors are still on vacation until next week in the U.S. I would not expect any roadshows in the U.S. to commence until next week.

    I believe current level of 0.6 to 0.7 cents is a very good entry point.

    Although Bergen would have approximately 200 to 230 million shares still to sell(after converting their final $318k), I
    would think that now that they have recouped most of their $1 million note, they will hold off for higher prices subsequent to today's U.S. listing.

    Just to clear up confusion about the 3 day VWAP being 0.3 cents Bergen have/had a 30 day window prior to any conversion of part of the note. That means they can pick any 3 consecutive days in the 30 day period prior to conversion.
    They picked the 3 days at end of Nov 2011 when Gavriely sold a large portion of hos holding at 0.5 & 0.4 cents. After taking a 10% discount on the 3 day VWAP the average came down to under 0.4 cents. Rounding down to next tenth of a cent gives a conversion price of 0.3 cents.

    This convertible note was taken out by Bergen in September when share price was at 2 cents plus. In their wildest dreams the Directors of ISN would not have thought that any conversion would be at under 1 cent. They were not to know that Gavriely would single handedly knock the stock down to 0.4 cents thus causing 333 million shares to be issued for the note rather than a maximum of 100 million shares.
    WITH HIND SIGHT MANY THINGS LOOK STUPID !!!

    I dare say had Bergen thought that the price could fall to 0.5 cents, they would have gladly given the company many more millions.


 
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Currently unlisted public company.

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