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Wednesday, 05/09/2018 8:27:22 AM

Wednesday, May 09, 2018 8:27:22 AM

Post# of 122988
Good morning all, Berge confirmed with me that the large Iliad note is being renegotiated due to new regulations that make it much more difficult for noteholders to convert the debt to shares. For this reason will the outstanding portion of the Iliad note be converted to a conventional loan. That tells me the transaction is not an if but a when. Taking large scale dilution off the table here is a game changer, imo.

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