Katumbus,
1.$90mill rescinded, $3mill initial tranche then $7mill = 10 bonds which were converted to shares.
2. Have asked about these other interested parties on many occasions but they never divulge, confidentiality. A takeover is possible but difficult given 50%plus shares on issue are held by the major holders/ top20
3. It would be interesting to know if it is a related entity that has stumped up the $500k, won't be a bank given there were 20mill options in the deal.
At this stage I would say there would not be much more than the $500k in the bank along with $900k R&D refund they will have enough to keep the salaries of those that are left flowing for the next 3 months.
It is a big ask for someone to come along with say $70mill to get things on track when current market cap is around $38mill. They may as well try and take it over at 5c a share.
DYOR My thoughts and ramblings only.
Add to My Watchlist
What is My Watchlist?
