Don't be so sure, DMRJ will just ask for a lower conversion price as they did when dropping it from the original 26c to 8c. The time for debt exchange was when it was well over $1 as a new buyer may have accepted say 50c on that. This management has been addicted for too long on their regular DMRJ fix and while they have been leisurely conducting their current debt review the pps has halved which already locks in lower priced future dilution. Hard to see where the bottom will be at this rate, 10-20c ? The retail market wants to see debt/equity exchange action now not warm words before they return in mass.
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