clarification from management re ann., page-23

Dcob
Personally I thought they'd extend it further , find a reason , and issue more options . Never did I think they'd pay back the loan in cash just prior to a potential oil find. No way. Issuing equity at 1c was the right move to look after their mates .. Takes the cake doesn't it. Gassed try to explain what the money was used for as if they have separate bank accounts / purpose , but at the end of the day they could have repair the loan by Dec 31 in cash in the interest of shareholders.

For the record , I think CTR will find commercial oil in primary target though if they don't its a $10m company in the short term and I'm not punting with this mgt at the helm.