That is my instinct too. I think the push from 30 cents upwards has looked a like genuine market interest, possibly even by attracting some momentum traders. But before that, with Moulin and our HNW individual involved, it all seemed a little bit orchestrated (from 12-30 cents). I suspect they will raise capital irrespective of the outcome of the convertibles. I think they will be hoping to revolve the convertibles, and at the same time be organising a capital raising immediately after the lifting of the trading ban. This will ensure capital raising will occur at around 45 cents or higher. As the refinancing of the convertibles would be a great and large endorsement, it would probably be at around 60 cents IMHO. The more I think about it the more likely I see this trading halt as the company 'buying time' to consider all recapitalization options, not just the convertibles, which seems a in the bag. All speculation but all the above I would be doing, and hoping the company is doing as well.
EPG Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
