If this capital raise was to pay LTR for the upgrade than it proves management have no idea what they are doing.
any payment to LTR can be cash or shares so it makes complete sense to pay for them in shares which would’ve been approx 6 cents? 25 million shares and LTR would’ve sold them down to 5 cents. Then you do a capital raise at 4 1/4 and release the dfs. Then the share price rises and we are through with sellers like LTR and the sophs.
that’s my two bobs worth.
Ann: Cleansing Notice - Share Placement, page-24
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