shakeout & what we have to look forward to, page-6

Hi Nigyrob,

sorry for the delay in reply but absolutely snowed at work at present.

I have been trying to read the EGM in detail over the last few days but as yet just had time for resolution 1.

The company states it has issued 53,400,000 x 5 cent notes. In the detail it states that 12,500,000 have already been converted. That leaves 40,900,000.

The latest 3B states that the balance is 40,000,000.

Therefore it appears this resolution was written prior to the conversion of 900,000 notes. That indicates it was written before 28/6/12 and has not been updated even though other following resolutions for the meeting are more timely and obviously written after that date.

It is just sloppy not to have updated the 200,000 series 2 notes converted on 28 June. I can understand the recent 700,000 being just a week ago would have been after the doc went to the printer but June is just not good enough.

One point of interest is that Novus did not feature. I would expect for the current raise to be successfully completed the company would need their financial support as well as its SI clients.

It appears that MAPD noms have already converted some of their notes. Anyone have info on this group based in Adelaide as their original investment was $500,000 and you would have to expect they will get a call from Novus to participate in this recent $10 mill cap note issue

Interesting times.
At least the price of oil is going up.
As each day passes a donkey nods. Lets hope it never sleeps.