Monday, May 02, 2016 1:23:56 PM
Let's say you make $100,000 per year. I want you to take $100,000 and throw it away to insure your paycheck for a month or two.
That's what you are suggesting. The company raised $2M with convertibles that destroyed $75M in market cap (96% of the market cap). That $2M was spent on getting to this drilling at Tarach-1... a small fraction of it went towards salary. IMO, very, very much reduced salaries at that.
With a current market cap of $2M they can't raise enough to buy a happy meal IMO.
More convertibles isn't the answer. More convertibles simply will not work.
People maintain anonymity for a reason and it is rarely noble.
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