#BnplGoingToZero, page-917

This is an extract from the Explanatory Memorandum which was issued to shareholders in preparation of a vote to accept funding of $10 mil from the 2 large shareholders Perea Capital and Tiga Trading, ultimately for shares issued at between 5 and 6.5 cents, wiping out most other shareholders' equity after the company had been lying to them for years.

Is this broke enough for you Mike?

If the Company is not able to call the Tranche 2 or Tranche 3 Note Amounts:

(i) the Company is unlikely to be able to obtain other, alternative financing on similarly favourable terms, or potentially at all, within the timeframes required;

(ii) the Company is projected to breach its existing debt covenants under the Goldman Sachs Warehouse Facility in the short term, which will adversely affect the ability of the Company to continue to operate and its ability to pursue and consummate any larger transformational financing; and

(iii) there will be a shortfall of funding for the Company’s continued business operations, which will likely adversely affect the ability of the Company to continue to operate in the short term.


Immediately after this, as you know, Motive Parters announced an investment!!!!!!!! What a bunch of guys! And their investment was continegent upom much more dilution, which has rendered those retail shares at 1/3 of 1 cent, only capable of being sold to sophisticated investors.

Freaking crooks Mike, and I am genuinely sorry that they were able to do it