That's right Towie. They already have $860K in the bank and...

That's right Towie. They already have $860K in the bank and that's what suggests to me that they are getting close to the go ahead. Having the conversion price to shares @ 0.5 is a premium of 66% above the previous closing price. But, with a juicy 15%p.a. that's $300k p.a. that they have to find and the clock is already ticking. Management wouldn't want to be waiting too much longer to get that cash flow started.