RE: .20cMinimal reaction but overall this is a positive. Company had a 6/10 deadline to refinance debt that was extended at high cost last year. They got 2.5million to payoff old debt and got 2.5million line of credit to use for expansion, promotional needs. Should help them with Iridium MCard promotion in Canada and help possible expansion into US.
Having 10 million shares in the hands of a lender worries me but little companies with short track records for profits are not the likeliest candidate for big financing packages, Especially right now.
Let's hope conversion becomes a reality because the share price climbs past .20. Won't like the dilution but probably means the company is executing their plans for expansion and profits.