yes as per the recent (and each prior) Quarter Announcement FOD's debt is $6.4m and Greensill is the lender.
FOD also had the $3.6m Cash (not 3.1m as I said previously) as stated in the same Qtrly and then they raised another $3m in early April (2 x Sophisticated Investors) = $6.6m total cash
IF Greensill Administrators call in the debts as opposed to continue to run Greensill then FOD needs to pay the $6.4m
(which I believe they have arrangements to do, if not the cash set aside)
So why do I believe this, well at the moment the main beneficiaries of FOD being in business are those who receive payments from them, suppliers, staff, landlords etc etc and those who make money from selling their products retailers. ie Shareholders don't currently benefit from FOD being in business via dividends, that is the Turn Around Story and if you're holding it must be because you expect capital gains ! (like I do)
So you have a management team who are handsomely remunerated (just on salaries alone), a bunch of Directors who already receive related party payments (Directors fees and other 'services' - also in the Quarterly Report). So there is inherent incentive to keep the turn around going wouldn't you say ? In the form of self preservation firstly and then secondly in the form of the many millions of performance options at 3.5c
So am am backing that management are very attuned to this, and their incentivised total returns / remuneration in continuing the turn around and delivering on the strategy, so that is in turn why I am confident they have a plan re the debt.
Put simply people are on too good a wicket to let it fall by the wayside, and management team I think justifiably, the Board though, and some long term Board members not so and I find it repugnant that they receive related party payments to be honest (on the surface of my understanding that is).
I hope that helps you understand the debt thing, plus in the newsletter report, it was alluded to anyway
I have been buying this week, I actually bought more shares than I had cash for, so today at Open I was a seller of 124,999 shares @ 3.1c (fake seller lets call it because of my cash calculation stuff up), so if you take that qty out of total volume we were lucky to get over 1m shares traded, and from what I noted Sellers weren't really coming to meet the buyers it was quite 50/50. My point being the selling seems exhausted and people may have been flushed out of their stop losses or taking tax losses and I expect things to head back to 3.5c and above as a trading range until we get some other announcements.
All my opinions of course - DYOR it's all in the Quarterly and Half yearly Reports
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