could it be like this, page-54

Hi,

Several months ago CVI announced that US$1.1b had been arranged through U.S. company called Pensador. Pensador has no real form or coporate history to speak of. So then CVI bought a shareholding in this Pensador thing for around A$12M. CVI did not say they had any solid guarantees in respect of the US$1.1b facility and nor did they get any protection, other than equity, on their US$12M investment on Pensador.

Now 4 months later this mysterious US$1.1b facility is yet to materialise.

I recall hearing, in a recent BRR interview with CVI's CEO, he said he expected funding arrangements to be finalised in September (now). He explained that key people were still on holidays in either the Mediteranian or the Hamptons. That was why US$1.1b was delayed!

So CVI paid A$12 to access US$1.1b.

Sound plausable to you?