This is for 1.5 million notes at A$0.20 per note = A$300,000. Earlier announcement said they had an offer for A$400,000. Has one of the investors not fronted with the cash? Also they need to get a move on with calling meetings and issuing documentation for the balance of the capital raise. They will run out of cash this month if they don't get funds in. $190k cash at March + $300k above = $490k. Operating cashflow of around $300k a month (exlcuding investing). So $600k April and May.
Maybe the CEO and his team are not expecting to be paid this month.
PVL Price at posting:
20.0¢ Sentiment: Sell Disclosure: Not Held
