Ann: Alleged breach of Convertible Notes, page-9

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eagle landed

62 Posts.

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27/03/18

11:58

Post #: 32052667
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Originally posted by sk1pper ↑

Deny, deny, deny.
Baum and co really have no option but to deny these claims as admitting them would mean having to repay about $1.5 immediately, which they clearly do not have.
What an amazing coincidence that the ESCUK guy flew all the way from the UK to Perth (at whose cost?) right on the same day that the new Company Secretary (the second change of Company Secretary in 3 months - whose mailbox apparently did not receive the Breach notices) took office! On the very next day, when the mandate for the $400k was to expire the ESCUK guy and TKF "agreed" to extend the mandate, apparently forgetting to put that little issue in writing but remembering under the withering onslaughts of both the ASX compliance desk and the demands from Alignment Capital (one of the principals of the group seeking Mr. Baum ad the Chairman's ouster), to finally put that little detail in writing on the 21st!
The very focused questions from Ms Pratt, and the continued pressure from Alignment is, I suspect, forcing the issue for the replacement of the top management.
As for the raising of $1.2m, who in their right minds would pay a massive premium on the market price of the stock of a company that has shown dreadful mismanagement, questionable judgement and lack of solid direction?
I think they are toast. If they re-commence trading, I think there will be a massive sell off as shareholders try to minimise their losses.
The true shame is that this messing about is further tarnishing the company's image and thus making harder to find a competent team to rescue this beast.

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still waiting for news - any more thoughts? Certainly they have a plan around $2 million seems to be needed??

TKF Price at posting: 1.4¢ Sentiment: None Disclosure: Not Held
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