That is a stretch of a statement in this circumstance. He is an executive director of Cyclone metals and he used EUR investors money to prop up this company that never realistically looked like it had a snowballs in hell of paying this money back.
This part of the announcement is just a straight out terrible deal no matter what way you spin it. We have got equity in a company at 0.02 which is a 50% premium in a company that has not hit this price in 5 years.
Consider this money virtually written off. In fact it is probably a smart way to essentially write of the money without having to tell EUR investors we pi$$ed that money up against the wall supporting TS side hussel
Ann: Trading Halt, page-75
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