re: Ann: Acquisition, Convertible Note and Bo...
Not much information in announcement re; Priority Payment Systems. A company of that name is registered in Ascot Vale Victoria. But there is also a U.S. company of the same name. Wonder if they are same entity or two separate companies of the same name.
The dilution of existing shareholders under the terms put forward in the announcement are an absolute disgrace and with no regard to existing shareholders investment. (1.25 billion shares then another 2 tranches if the company is successfull over another 36 months).
The lads as expected have not put much thought into this project.
Hope for all it is not another BXP.
IMO DYOR
Ann: Acquisition, Convertible Note and Board Chan, page-2
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