They don't deal in billions...Monash have "$300 million in assets" and "access to larger tranches".
The $4 mill is a done deal - I have always said it is and I'm sure will get across the line by 26/7.
I think this update was made to get the $1mill "fast cash" ann'ed. Not certain a great deal with 15% + 5% = 20% interest rate - but nonetheless. At the least the $1 mill doesn't involve more share dilution - that's something at least.
Also, you will find that every comment quoted "..." in the ann is made by the 3rd party and not by ESI management. Nice wording as ESI management can not be held accountable for the deal falling through (if that happens - unlikely of course, but safe move from ESI management) they are just repeating what they have been told.
Good news re the extra $$$ being neg'ed for Coldry and Matmor and so on.
Still begs the Q "Why so hard to get this $4 mill into the ESI bank account" for a global $300 mill business???
I suppose ESI holders should also be asking why the delay???
All the best
K
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