Converts ?I believe that there are about $4 million converts that the company must redeem come end of Sept. I was surprised that even though management claimed that convert holders voted in favour of extending the converts for a further year, management decided not to exercise that option and said they would redeem the debentures come Sept.
No idea how much the cash position of the company has improved in the interim, but baring some very significant sales
increases, the company is going to be in a pretty uncomfortable cash position come October now only 3 months away.
Anyone see a silver lining here?