"Also, there may be covenants on that debt related to their financial position that they are in danger of violating, which could result in an early call for repayment. Listen, I don't know the answer to that, nor am I pretending to. I just know that the stock is Tanking and there must be a reason behind it."
I think I was pretty clear from my previous post that I'm not aware of anything specific.
The Convertible Debentures are traded publicly on the TSXV under symbol MCLD.DB. I was encouraged to see that they bottomed on 8/11 at $70 and have since rebounded to $85. There was a big spike in volume the day of the bottom (> 400k). Here's the chart.
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