going forward, page-12

Valuesearcher
From your posts, I realise you are a bit confused of all the happenings.
Just to recap:
EDM needed fund for the projects in Baita and PNG.
EDM found a funding source in the US called AGS Capital.
EDM signed a 'purchase agreement' of $25m funding with JCLTVF which supposed to be operated through AGS Capital.
In the agreement, EDM needed to pay 5% of $25m + $20k non refundable upfront fee innthe form of new EDM shares to AGS Capital. (187m)
EDM thought they could get the funding after paying the fees. However, they realised that in the agreement, there are conditions that could made the funding impossible: Max $1m per advance in the form of shares for cash, no funding if the SP is below 0.9 c, AGS Capital limited to 9.9% of total shares outstanding.
As soon as AGS Capital got the 187m shares, they started dumping them....from 0.7c all the waynto 0.4c. In the process obtained approx $516000 profit. They still have about 65m.
When EDM realised that they are had, they terminated the agreement and wanted to ask for the fees back. Unfortunately, the agreement is legally binding and the fees are not refundable.
EDM then did a placement of 378m shares with free oppies at 0.004 to someone for $1.5m. (this part of the deal is not clear as to who as there is no F604 filing yet) probably to replace the AGS fundng.
EDM further issued 62 million shares @0.004 to get another $250k for capital expense from probably friends and family. (will wait for F604 filing to confirm)
EDM is going forward with new funding source and reconfirm the settlement date of Baita.

As you can see, the drop in SP was due to AGS Capital dumping their free shares with the intent to make the agreement inoperable. As such, IMO, the current SP of 0.4c is made artificially and not the true SP. And that is the reason why I think the SP should go back to pre-AGS level soon. (0.8-1.0c)

With further news, anything can happen.

So don't panic.

EDM was basically fallen victim to the 'loan for upfront fee scheme', which was generally refer to as the Nigerian Scam or 419 scam (Negeria panel code 419). But this is a very sophisticated one to the asinine.