The issue of CN's will scare a few off, but at this stage none have been converted.
If and when the current $1m are converted, the impact will only be additional 300-350k new shares, which is far less than the 15% available in any given year anyway. Really just a lack of common sense to be selling off the back of the CN issue.
I think MF's intention would be to pay it down before conversion anyway. Fingers crossed we get the opportunity to do that.
Your numbers look pretty good chuk, however I think there is a huge range for variance depending on the distributor, ie. JB hi-fi type retailer or telco/network provider. Given that your numbers are based around 1 of each so far we can only guess which way the variance is likely to travel. Assuming the bulk of sales are through JB hi-fi now then it's not unreasonable to expect a telco signing to offer results to the upside of your assumptions. Fingers crossed again.
MWR Price at posting:
$3.10 Sentiment: None Disclosure: Held
