SOC 0.00% 11.0¢ soco corporation ltd

D&C - I understand SOC have received $1M from Bergen already,...

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    D&C - I understand SOC have received $1M from Bergen already, the $200K comes from the amount Bergen have converted into SOC shares to date.

    If that is the case, we can certainly expect much more downward pressure in the lead up to subsequent conversion tranches.

    Price drivers will be drill results which you can bet Bergen will pump the hell out of. They will exit quickly and repeat the process when SOC issues next convertible security to Bergen. The sooner it is done the better. SOC are not crazy, I don't think they would be dealing with Bergen if they had other capital sources available.

    I also see the IPO flopping, SOC continues to hold Adrah, the PMR transaction goes ahead as planned, but SOC must find alternative way to find Adrah drilling, Bergen again?
 
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