Ann: Funding Agreement with Acuity Capital, page-12

This amounts to cc debt.

• Company just issued 9 mill shares as security up front which AC will begin to sell on the open market, when BML need money they will issue more shares to AC at the price at a 10% discount to VWAP, once issued AC will sell off the stock.
• This will slowly drain the SP unless there’s some exceptional news ahead but if there was the company wouldn’t be using a tool like this.
• MNS have used this type of funding twice and it’s been disastrous for the SP.
• So $5mill will cost at least $7.2 mill in issued stock