Ann: Short Term Debt Facility , page-2

Why would Kazacos suddenly depart from the underwriting of the rights issue to $1.75m previously announced and pump the $1.75m in as cash immediately?

There was only 2/3 weeks until the rights issue funds would be available anyway.

I know of plenty of reasons why business's need immediate injection of funds and cannot wait a few weeks - not many of them good.

If I rang the company and asked them what the funds were needed for I assume they would say 'working capital' - what I want them to tell me is what has happenned recently that has necessitated this dramatic need for cash right NOW!

Kazacos is now up to $3m loaned to the company in last couple of months. No idea how much he has pumped into the company before - would be interested if anyone knows? Is he expecting repayment or is he expecting it to be converted into equity........I suppose he is the boss now with all his mates from PKBA alongside him - so I guess he will do what he likes.