Ann: Appendix 4C Quarterly Cashflow Report and Commentary, page-259

Ok I understand what you're saying but it is a quick (and short term) ability to get CASH for the ramp up of production. If you look at the net result the company NOW has 275mil shares outstanding and $5.8M and no overhang. Do you see what I am saying? It isn't about long term debt strategy or a funding partner with off-takes like building a mine. We need product on the shelves or in hands of front line workers yesterday and this was a reasonable option in my mind and actually what caused the turmoil and chart as a by-product but Acuity are now gone!.

You're VWAP comment is what it is... If you look at the raise price as i mentioned it was higher than it is now.. so how is that bad? The VWAP for longer periods actually means Acuity paid a massive premium if you extend that out 30 days.... did they make money. You bet but they also fronted it and in 3 months time we will have forgotten about it as it isn't showing on the books... Do you get me? We won't have massive interest payments or continued controlled placements, or capital raises...

If the CPA existed or they kept extending it i would 100% agree it is a bad deal.