Agree EMC. Saw same happen with INT (La Jolla). They had the right but they needed the money so kept converting below the floor.
I knew it was a New York fund but didn't want to ask for a specific name, especially as we were going to find out now anyway.
We will get the shortfall placement notice soon.
This is definately dilutionary. That much is obvious. But we need funds. It will, like it always has, come down to production. If oil flows, the sp will rise.
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