There are 141,816 options on issue not 300mMy understanding is...

There are 141,816 options on issue not 300m

My understanding is yes a simple placement facility.
they did the last one by way of prospectus so they should have plenty of room to raise money with professional investors.

i have back looked and the extra rollover for the past 3 months on the notes was provisioned in the deed. i do not think they want to knoack up new deeds with the existing noteholders in my view as its getting expensive. started out 15% then went up another 3% when they extended it to 18%. Also the noteholders get $18,000 fee on rollover per note. there are 5 notes. thats crap. And we need to know what they are are up to. i have come to the conclusion that its the notes holding the share price at bay. announce a resolution and the stock will rally well IMO.
So many things could happen. note paid out, note taken over by JV partner , or raise capital ( bit late the note has matured), note holders convert into shares or as i suspect, MAR is working on doing a merger with BCD and all the cash held by BCD takes care of it.

The only thing I can with certainty is if they do not make a disclosure early next week, i will be on the phone to them reminding them of their continuous disclosure obligations.

Flux