Last paragraph of our announcement, we now need to pay TMK a further $US809,333 in cash or shares, their choice.
Firstly so much for past disclosure, as far as I am aware this had never been mentioned before. To my mind this should have been disclosed. Secondly great news this morning so I guess this is just part of it.
My point being we already have a cash shortfall, now it is $Aus1.2 mil more. This has to be an issue depressing the share price.
I guess we will find out soon, but unfortunately this announcement does not solve the puzzle, we need the debt funding announcement.
Just my view.
TPD Price at posting:
18.0¢ Sentiment: Buy Disclosure: Held