there is no rapid release of funds going to anything.
INL draw down a set amount each month from the Con Note to cover expenses.
La Jolla can then convert that loan it has given to INL into shares at a discount to the vwap. So it is La Jolla's decision and benefit as to how much they convert and when.
The only caveat for la Jolla is they can't go past 9.9% ownership - which would be about 99m shares.
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If INL take up the second Con Note from La Jolla your share price will be under 0.005c by November 2010!!!!
I'm not sure why holders are so accepting of this - I would be demanding a cap raise or some other arrangement that does not dilute share holders value without shareholder participation.
You guys are all to pally pal with the mgmt of this company - they need a rocket.
there is no rapid release of funds going to anything.INL draw...
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