Placement holders underwater. What happened to the rights issue they were going to do? Not sure how many will participate considering they were probably going to do it at 0.5c (same as placement price). They will have to drop the RI price down further now, meaning even more dilution. These guys already have 1.8 billion shares on issue.
Interest bearing loans of $500,000 from JVHM last 2 quarters. That will likely be converted into equity soon enough. A predicted cash burn rate of $600,000 from last quarterly, meaning they will need more money for sure in the next 3 months.
Expect close to 3 billion shares on issue when this is all said and done.
Crickets chirping, page-61
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