Yes, looking a lot more positive than it was a month ago, which is a good start. I'd say the holders of the debt will convert rather than the company pay it back, in fact anyone looking to invest a significant amount in the company will probably insist the debt is tided up, but not with their cash. While it's good to see the $1m in the presentation as you mentioned, sadly if the Chairman has had anything to do with it it will be another 25% interest rate deal no doubt as you eluded to. Lets hope Peter can talk some sense into the circus that is the current management getting them to step aside willingly and replacing them with a board of some intelligence.
We can probably bet that the current management are accruing plenty of salary & fees that they will try to extract once a CR is done. Lets hope any investor puts the brakes on that also.
VAN Price at posting:
6.0¢ Sentiment: Buy Disclosure: Held
