I think there are other reasons he was let go, but I have seen something where DM threatened a company over something similar, so it is possible that they wouldn't be happy with a re-fi.
Why would DMRJ have a negative view on talking about a refinancing?
Because their $4-5m of 8c convertible debt & interest only gets re-paid at $4-5m rather than at a pps/8c multiple when sold on the open market. At the current 56c every dollar of this debt pays back one dollar of principal and six dollars of profit which is coming out of retail shareholder hide. It's obvious why they don't want this gravy train to ever end. These 8c convertibles were originally created at 26c when the pps was 27c, if they had remained so it would have retained some semblance of fairness.
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