red, usually #'s in 1000's applies to the accounting section, but thats not really whats improtant here..compare the wording differences between q1 and q2...they're substantial...it's not just the dates that changed. in the q2 there was no mention of kry being able to convert the shares...
i'm also getting curious about the $2500 loan prior to this one? there was much discussion over this in april of this year. the q1 says we got the loan in march but you posted this message in june,
http://agoracom.com/ir/Crystallex/forums/off-topic/topics/411671-small-and-very-short-term-loan
is this the same loan? says we got it prior to the end of 09'? is it the same strategic investor?
from your post-"Subsequent to the year ended December 31, 2009, the Company received a $2,500 loan from a potential strategic investor. This convertible loan bears interest at 6% and is repayable on June 30, 2010 with an extension up to November 30, 2010 as determined by the lender. Subject to regulatory approval, the lender has the right exercisable for a period from May 31, 2010 to November 30, 2010 to cause the conversion of any amount of the unpaid balance of this loan into common shares of Crystallex at a price per common share equal to the greater of Cdn$0.20 and 95% of the 5 day volume weighted average trading price on the Toronto Stock Exchange of the common shares ending on the date of conversion."
1st quarter financials:
In March, 2010 the Company received a $2,500 convertible loan from a potential strategic investor. This convertible loan bears interest at 6% and is repayable on June 30, 2010 with an extension up to November 30, 2010 as determined by the lender. Subject to regulatory approval, the lender has the right exercisable for a period from May 31, 2010 to November 30, 2010 to cause the conversion of any amount of the unpaid balance of this loan into common shares of Crystallex at a price per common share equal to the greater of Cdn$0.20 and 95% of the 5 day volume-weighted-average trading price on the Toronto Stock Exchange of the common shares ending on the date of conversion.
2nd quarter financials:
CRRC previously advanced Crystallex $2,500 during the negotiation of this Agreement. Subject to requisite regulatory and shareholder approvals, this advance is convertible at the option of CRRC into common shares of Crystallex at a price of Cdn$0.40 per share until September 10, 2010. This convertible loan bears interest at 6%, repayable on September 10, 2010 and ranks subordinate to the Notes described in Note 10. Upon the later of (i) receipt of all necessary permits to develop Las Cristinas, and (ii) the closing of the Agreement, Crystallex would have the right to cause conversion of this loan into common shares of Crystallex pursuant to the terms thereof on 30 days’ written notice to CRRC.
