Ann: Shareholder update and Board changes, page-18

What do you mean PIL can't raise (capital)? Every single time they have needed capital they have gone out and got it. Every single time!!

And that includes this time. Half of the first stage capital raise of $750k is filled and the rest will come pretty soon. And the second stage raise of $1.5 million - the part where Mark Reid comes in as a director - is also filled. Tell me again what they can't do?

If you haven't joined the dots yet then hit on this link....https://www.cashconverters.com.au/cash-loans/how-our-loans-w4orkto help

Let me step you though it....

1. PIL want to get into lending to their network of agents. Only those that are active and earning commissions will get a loan thus ensuring repayment.
2. PIL need $1.5 million loan capital to get Bizmopay underway.
3. They find Mark Reid former CEO of Cash Converters, another sound WA company BTW, and he and his associates are as keen as mustard to provide that capital because they know how lucrative the business can be.
4. But Mark and his mates want PIL's suspension to be lifted first.
5. So the Cains go out and find the $750k needed to satisfy the auditors that they are solvent for the next twelve months - I though it was $1 million but who's arguing - and have the audit report qualification removed
6. PIL is almost there.....patience

In the meantime I am waiting for the next monumental east coast stuff-ups getting billions of federal bail-out money to be added to the list of all previous such monumental east coast stuff-ups like the Murray River, gas supplies, electricity network, Great Barriers Reef....the list goes on. The east coast just oozes lazy incompetence and an attitude that that's ok because WA will pay for it prevails.