This shareholder must have some serious money to lose. Not sure of how much was drawn from the first loan facility of $500k or paid back... But maturity date in 4 months time... and now another loan facility from the same shareholder for $1,000,000. New loan facility being used to cover director salaries and pay back of anything drawn from the last loan facility? Not saying this is fraudulent by any stretch, but looking at the lending from shareholders to date at face value only, looks like the 'P' word lol.
I can't bring myself to think that those people lending the money legitimately think this company will bring in any meaningful revenue, let alone enough to pay back the loans with interest. At least the directors are sitting pretty, $65k for last quarter and $22k for the non-exec dir... holy!! Enough in the loan facilities to keep their accounts topped up for a while.
Year to date revenue doesn't even cover the directors salary for a single quarter
And yet, company is valued at $19m MC haha. Proof first hand showing how backwards the ASX can be.
Add to My Watchlist
What is My Watchlist?
