Adzman1,
If that is correct, it's a great move by the director. CMR pays US$480k to establish the loan. Director advances $US480k to CMR which is nett of the draw down fee. Total owing to director is US$487k. Director picks up 10% interest plus foreign exchange gain without putting up a cent.
Smart guy. Time to buy CMR.
browns update now out nc, page-12
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