BUC,
You just do not get it. There will never be a repayment of any loan provided by your 30 nominated shareholders. Why? Because there is no hope of cash flow and the debts are building weekly and monthly.there is no money. So your 30 shareholders can pony up cash, it will disappear down the BLR black hole in 6 months.
Add up the monthly burn rate in Perth, Wyoming and Colorado, add in permitting, legal fees, multiply 24 and you probably get to $5 million. I guess 30 shareholders each can put in $167,000 each. What interest rate would be charged and how will it get repaid? There is no cash flow. You think long term shareholders that got burnt already are super keen to put in another $167,000 each? Of course this can not be $5 million in shares because shareholders woud not support more dilution. Plus you would need a special shareholder vote and I would suggest the top 3 or 4 shareholders would vote against any deal of this sort, effectively killing your plan.
Cait
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