Charlie, I feel the need to clarify some points !Financing...

Charlie, I feel the need to clarify some points !

Financing Capital arrangements where in the final stages of completion, just prior to the unfortunate circumstance of (CEO)Tony Simpson. All was in place until this event.

The Company namely BLR, then found itself in an unfortunate situation of the financier pulling out due to it's cold feet view, on to whom would manage the Company in it's period of turmoil.

This is where Mike had very little option but step up to the dilemma & to fast track the decision of capital raising.

Just remember the timing of this event was just before Years end (Christmas/New Year, there had to " no if's or buts " be a decision made prior to the beginning of 2013 to alleviate suspension.

Yes capital raising was drastic, but in insight it has worked perfectly for all those who took up there entitlement.




The entire situation is understandable if one knows the details :)


Cheers from Grant :)



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