Ann: H1 2018 Trading Update, page-15

Shot myself in the foot I did by talking myself into believing the first half would surprise on the upside then averaging down on Tuesday. What a goose. A skint goose as well.

So, this was the real reason why the SP is barely one third its September high: poor performance of the business.

I don’t know the details of the $9 million convertible note, but I hope the lender can only do a conversion into shares as repayment at a price fixed when the note was taken out. If the conversion takes place at say a 30-Day volume weighted average SP immediately prior to its maturity, we might face concerted downward pressure on the SP for the rest of 2018. An ugly thought. Could be a cheap way to gain control: $9 million note conversion at say 0.5 cent/share. Bye bye CM8.