First of all, they were not looking to GET a convertible note to retire debt, they were looking to trigger a conversion at 4c to retire the convertible note.
Secondly, they were always expecting to make a loss in the first half due to the restructuring costs, I do note that the reporter failed to mention the fact that they made an operating profit of $770,000 for the second quarter as savings from the restructure start to flow through.
I stopped reading the Fin. Review a year ago due to its poor reporting and only buy it for special occasions, Lehmans in this instance. wasted three dollars.... again.
Regards.
HYO Price at posting:
0.8¢ Sentiment: Hold Disclosure: Held
