Based on 3 days formula for the adjustment of the CV-Price I would then say, that we are Close to it.
It says: The amendments include, among other things, a change in the formula used to calculate the conversion price to a 3-day volume weighted average price ("VWAP") of the Common Shares on the Toronto Stock Exchange. The conversion price of the second tranche debentures will be C$0.4629 per share and the exercise price of the second tranche warrants will be C$0.5786 per share (both of which are subject to adjustment under certain circumstances); and acceleration of the anticipated closing date to on or around April 10, 2014.
The wording: and acceleration of the anticipated closing date to on or around April 10, 2014.
So the Price from yesterday - today - and tomorrow should give the adjusted Price for the CV and the Warrants for the second Tranche.
After the 1oth I would assume the downside pressure should be over, as the lenders have achieved what they want: A very deep CV Price and very attractive Warrants Price.
