Gosh Mike
Tell us if you are in the banking syndicate which finances aircraft with no fuel ( saves dollars) or factory with no stock machine tools or WIP ( big initial finance reductions) ....maybe the hotel group with no staff ( why pay them when its obviously costly) .......farming group with no seed or tractors or farm labour? ( you still get the fields) The investors would save a fortune if you tell us, and the bankers would learn to whistle quick. Electricity grid with no transformers? Bakery with no electricity ? You would be being really kind.
Truth is we probably don't know about the Mezzanine Finance elemenet in plan, with a wee bit of dilution bonus built in over 5 years. My guess is its there and that they arranged the finance to fit the plan. Gosh. Finance isnt exactly a new science
mel
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