SF, the 25% doesn't really bother me, they needed the cash and the maximum allowable was $2.5m. So let's look at the scenario...the offered the Con note say 1 June (not exact but to make things easier) - IF they even got the full $2.5m fulfillment and say they list by 30th November then the maximum cost to Vonex will be $312,500.00 in interest. The notes are then converted/redeemed or whatever and they can move on.
The app is the catalyst and you should really look further into the app and the possibilities before making any decisions - only my opinion.
If you don't mind me asking, what made you invest in the first place if it wasn't the app? Original Vonex business OR long term holder of AWD?
And just for completeness, you say it'll be worth a fraction now, they're planning on raising $5m at 4 or 4.5c, if that gets fully underwritten or taken up then your investment has less than halved from the closing price back in November.
VNX Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
