Hyperdynamics Corp (HDYNQ)

[whitenoize]

One other random thought. Does anyone think the proceeds from the 40mil shares would/could be used to pay out the guarantees to the preferred stock holders?

(ii) waiver by holders of our Series A Convertible Preferred Stock of their right of first refusal,

Kind of puts the preferred's in an awkward position that could possibly quash the deal. They can put more money into what would be, potentially, a worthless company, or give up their rights and pray the warrants eventually work out (extremely unlikely in light of dilution). This leaves their only chance as being a recoup of monies paid in.