The Sums

As noted by eyeinthesky a short time ago, it is probably prudent to look at the sums for getting to the 51% threshold. Given the cash-on-hand and share issues, it appears they are still short. Even when they get to the figure required for the buy-in, they still need to have money to operate lest the ASX start calling solvency into question.

So, the question has to be asked - where is the money coming from? There seem to be two credible alternatives:

1. Further share issues... but it will have to be a lot of shares. 4.5 million new shares just to get to the buy-in figure, not accounting for ongoing administration of the company.

2. A loan.

I would be interested to hear everyone's thoughts. And a word of warning (some know where I'm coming from here) - if we see mention of a loan being secured against a 'monetised bond'... run for the hills.