It gets funnier every day. Good to see that one IOR shareholder...

It gets funnier every day.
Good to see that one IOR shareholder Ben Pauley has a few brains.
Its not like you weren't told before about what would happen.
As usual the IOR cheerleaders were quick to dismiss and counter with the usual dumb answer.
Today the situation is even worse, at 6.9c less 15% discount = 5.8c    Amount owed =$9 million/ $0.058 = 155 million shares

Either IOR will have to repay the amount of $6 million + $2 million ( compound 10% interest) +$1 million = $9 million in 3 years time, basically impossible.

QUOTE
$9 million / current share price. less 15% discount or $0.087 less 15% discount = $0.07395 $9 million /$0.074 = 121 million shares. I just rounded it off.
" Shares: the share amount will be determined by then share price (1- month VWAP immediately before end of term) less a 15% discount;"

Why don't you blokes do your sums. You just wait for the shock, or just hope in hell the share price goes up.
First Samuel will get 1/2 the company for a $6 million loan.
Its a joke, and its the downfall of the company. Who is going to be dumb enough to buy IOR now?

https://hotcopper.com.au/threads/an...4413134/page-18?post_id=35415317#.XEfZslwzbIU

It gets funnier by the day.