Broker Report - DJ Carmichael 68c, page-7

Re:  Is DJ Carmichael promoting false & misleading information on CM8?  
http://crowdmobile.com/wp-content/uploads/2016/07/CM8-DJC-Research-20July2016.pdf

Under their headline “ CM8 refinances its term debt:” They stated that CM8 will now be paying a base rate of 6.25% interest vs the 12% interest it was paying on its original debt facility.

I was on the CM8 webinar call with on  Thursday 14th and twice it was clarified  during this webinar, by the CEO and the Chairman, that the interest rate payable is not 6.25%, but 9.0% if paid in cash or 11.5% if paid in shares.  You can see this at the 7 minute mark on the video of the webinar. http://crowdmobile.com/media/

Additionally, when asked what the monthly savings will be in $ terms due to the refinancing the response was only $25,000 - $30,000, if paid all in cash, and that this is due to the increased size of debt.  

So a larger debt, with a 25% improvement in interest rate, not the 50% improvement being announced, and only if paid in cash.  If paid in shares, they are only going from 12% down to 11.5% in interest payments.

Does DJ Carmichael know this?  Do they fact check their own company updates? This information is available on the ASX website. I can only guess that DJ Carmichael are either being paid, directly or indirectly, to publish such misleading information - to provide a  buy recommendation and a $0.68 valuation based on the savings made and extra free flowing cash from a 6.25% interest rate.