I suspect a little more of the ZCCN will be drawn down
and then converted to shares to allow Pacific Capital to have some shares to give them back to the shareholders they borrowed them from.
My guess is that $200k to $250k will be drawn down and converted.
Its not all bad news, dilution will be no worse than that under SPP and company has another $200k + in its bank account.
Pacific Capital would not have settled if they had to buy them back on market, it would of cost them more than the conversion price.
pacific capital outcome, page-2
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