Non flow through is far more difficult to finance. That is the portion that wasn't fully subscribed. A half warrant with only 18 months to redeem is the kind of terms a strong company with consistantly positive results would command. It isn't usually equated to a company on a 12 month downward spiral. High risk requires high reward with opportunity to profit in relation to the cost base. I'm quite shocked they did as well as they were able to, considering the poor terms. Seems there is still some appetite for GNH paper. I'm pleased to see that.

pc