Ann: Trading Halt, page-7

folks don't seem to know what is probably going on here

the 28/1/22 announcement said:

NTCG has already paid $2 million, for which $1.72 million in unallocated shares is still outstanding

LNU have the right, if the VWAP falls below 1.1 cent, to not place the shares to NTCG and to refund the money back to NTCG

my rough calculations show the 20-day VWAP to 11/7/22 was around 0.5154 cents

with the 5% discount, round down to the nearest fraction, it seems NTCG could have called for their remaining $1.72 million to be placed at 0.4 cents, which would amount to 430 million new shares, diluting the share capital of LNU by an addition 22%

but the above did not occur

my guess is LNU has refused to place the shares and is refunding $1.72M back to NTCG