-That's a negative on convertibles. Settlement with stock could only happen upon conversion ie if the SP is above 32. Otherwise it's the same as a plain bond.
-RVNC is losing money at 400m sales.
-I don't know about the Chinese sales potential but it's quite a small market at the moment. There hasnt been a registration in Europe as far as I know.
I'm actually still long some but trying to provide a framework to think through when a shareholder could see any dollars flowing back to him. Cheers.
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