I do no like these convertible notes,,,In my experience, every...

I do no like these convertible notes,,,In my experience, every small cap company that has used Springtree type credit facility has experienced a HUGE drop in SP....

They have no incentive to hold IMO, they get the shares,sell on market,next time shares are issued the SP is lower so they get more shares for their money,,,they never lose.

I expect the same thing is happening now,,,I will not fight it, I will try use it to my advantage and I will try get a few more while its cheap...We should expect dome 5 results anyday now,,,lets hope Straits in south Australia also hit something in the three holes currently being drilled..

looks like the drilling business has plenty work and hopefully it will begin to make profit...I assume that the drilling business needs volume and good weather to profit as the fixed overheads like rent, insurance plus wages will eat into any profits if work is stopped for any longer period due to weather or no work...This was obviously the issue in 2011,,,let hope they have more work in 2012...

this is all IMHO, dyor