RE:Proposed revisions to Convertible Extensions - VOTE NO take your $50 and move on to another stock
Lire02 wrote: The company's proposals do not go nearly far enough.
While proposing to lower conversion price to 5 cents per share is a small step in the right direction, the company surely should also lower the conversion price on interest payments to 5 cents from the currently offered 7.5 cents and the company should make outstanding all outstanding interest payments in these 5 cent shares this September 24, 2022 to indicate good faith.
Only if these very reasonable terms are met should Debenture Holders agree to the maturity to be extended a further 15 months to December 2023 ( at no near term cash cost to the company ).
I do not understand why the company is playing this short term water torture for Debenture Holders, but it surely does not suggest the company is acting in good faith.
Just as a point of interest, how many Debenture Holders have actually been asked their views on the matter? I know that I have not.
I say VOTE NO to proposed changes until the company demonstrates a willingness to propose a FAIR and REASONABLE compromise to assure the company and shareholders another 15 months of operational viability.