RE: Fair dos16 Mar 2018 11:02
Thats very interesting. All depends upon Bedsit - cause he's in a very strong position [assuming there have been no illegal activities].
Its a signed contract and endorsed by a Nomad. So its enforcable and Bedsit can just say tough - I want to convert at 0.55p and have my warrants. Thats what I would do as they can't sue him because they changed their mind and its crap - being a moron [2 of them] doesn;t count in contract law as a defence yet.
So its all down to Bedsit. I know there is talk of him getting into a bit of bother in the US but unless he's barred from the financial industry, can';t see its relevance and they can't say we did not know - a quick google search and up he pops so no due diligence. [so Nomad is negligent there.]
So who knows - be fascinating to see what they come up with .Overall, the agreement content and the counterparty identity is the most bizarre & inexplicable thing I have seen on AIM for ages.
If Bedsit is good and agrees to a deal, they will have to compensate him so raise more money than before. And we don't know if forward selling has actually started - if it has, those shares have to be issued - maybe half the loan notes so far sold. ???
Its a mess whichever way you look at it & Northland look especially silly.