This post won't be a popular one! But I have state it as I see It.
The ann lacks info! To ambiguous!
First point........No mention of Directors paticipation?
Topwei is who we owe the $5mil to......They are number 20 on the top twenty list
Are they going to participate?
As a top twenty share holder. Would it not be in their best interest to re- negotiate the terms of the loan?
The ann also clearly states ,( Reduction of the loan) Again ambiguous, So if the raise achieves the full amount
how much of the loan will be repaid?
If we only achieve half the raise, Again how much will go towards the loan?
For me a better plan would be re-negotiate the terms of the loan,
With everything that is going on, and all the momentum building
I think the company needs to better inform share holders, On the details
Maximum participation $30k. So what is the minimum subsciption?
Are all directors going to take part?
What percentage of the funds go to debt reduction?
In my view if the company expects share holders to jump in, We need to be better informed.
Anyway that's my thoughts.
Cheers.
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