p.s having said all that if the remaining debt is $1.5m then at 20c they are set to receive a further 7,500,000 shares and if they can get the price down to 10c 15,000,000 shares.
This would leave them somewhere between 19m to 26.5m shares. Or between roughly 14.5% and 19% of the company.
I can't see them manipulating the price for 5 or so million (but then again 5m is 5m)so perhaps Cornell has decided to take a strategic approach and end up with a decent slice of the pie for the paltry sum of US$5m.
Surely they would have negotiated a cash deal if it was a sinking ship ? then again perhaps they're believers in the planet Kedrion.
Should be interesting whatever unfolds.
LFE Price at posting:
0.0¢ Sentiment: None Disclosure: Held
