CCC continental coal limited

i'm voting no to all but was moderated, page-9

  1. 625 Posts.
    lightbulb Created with Sketch. 17
    The first Oracle loan had repayments occurring monthly after month 2.

    Both loans were SHORT TERM essentially limiting the lender's risk. In general short term loans such as this suggest desperation on behalf of the borrower.

    Rhetorical question: why not borrow longer term at commercial rates without cash flow impacts.

    Note Resolution 2
    2.1 Loan of $350,000 second Oracle Convertible Note
    $350,000 on 10th Dec 2012 to 9th May 2013
    iii) Coupon $35000 or 10% payable IN ADVANCE IN shares AT 90% OF VWAP (were these sold and when?)
    iv) Facility fee etc etc in advance

    We are not told in what the conversion price was and although I could do a calculation I couldn't be bothered. Were these shares held or sold?

    Is Oracle still a holder?
 
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