I've just read thru the announcements regarding Noble...

I've just read thru the announcements regarding Noble Investments. The lowest it appears he can convert most of his notes at is at 6c per share for $1mill worth. BRT may give Noble Investments one month's notice that they wish to pay back his loan and Noble then can make the decision whether he converts to shares or takes the cash.

It is hard to know whether BRT have breached their obligations to Noble Investments and therefore Noble has the right to call in the loan and get repaid immediately. I'm also a little confused at what security Noble has in regard to BRT assets, but it appears possibly only cash.

Also interestingly, Noble did not support the acquisition of MFC and if I remember correctly, they abstained from voting at the last AGM on this item.

As for going into VA, it would be a disaster if this occured especially if they go into VA with a share price at current levels and they then need to raise cash via a placement. A rights issue is a possibility I guess. For $1mill I could get 50%+ ownership of the company, however, I'm not sure based on BRT's performance this year whether that is a good investment, however, it is worthy of deep consideration.

The market definitely believes BRT is a gonna on Friday and I think I'm inclined to believe the same now. It would be nice to know the reasons for the delays as DD was completed about 4 weeks ago and as to why they asked for $4mill when I would have thought $2mill in the short term would have sufficed.