That's just adding to the existing defaults under the loan facility as the SP has never traded above the minimum required VWAP of $0.02 since the loan was signed up.
I suspect the liquidity condition (i.e. trading volume) has also not been satisfied for sufficient amount of time for Magna to pull out, but not before they got their shares for the upfront loan fee...
Ann: Voluntary Suspension, page-6
-
- There are more pages in this discussion • 7 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
