Maxin -
On the point about potentially selling the shares in the short term, I agree with Key that this could be their intention. On the other hand, it would seem, at the least, that they consider it worthwhile to see what they might be able to get for the shares in the near term and thus view the shares as having a decent chance of displaying at least stability in the near term, if not upward movement.
And who knows, part of their calculation could be that if they don't have a good opportunity to sell part or all of the shares in the short term that they might not mind holding to see what the future may bring.
These are investors -- if I'm recalling correctly -- who required the IP to be put up to secure the note. While they may have felt that afforded them a bit of protection, it would appear that they saw some hope of upside when they decided to make the loan, (with equity convertible feature), last year. Otherwise, not so sure they would have taken the risk and made the convertible loan in the first place.
And it would seem possible that 6 -8 months forward to today, (where we stand today), they may like the odds of an equity stake vs what seems has become a near guarantee of repayment of their principal , (following the receipt of cash by the company as a result of the successful up-listing).
The more I think about it, the less certain I am that they intend to sell quickly. I totally acknowledge that it's a possibility...but I think holding to see where we go is equally possible as a game plan for them.
And regardless, the dilution associated with the share conversion and even if they are to sell the shares in the short term -- still seems at worst neutral with the debt wiped out.
i always like to say that this is just speculation, because it is -- but I think it's logical speculation, at least.
GLTA
