The way I see it PT must have a strategy to repay he is working on or at least options on how ADY will repay Hawkswood.
In June share price range between 20 cents and 28 cents. With approx 1B shares outstanding that gave ADY a market capitalisation of between $200M and $280M.
Back then he could have made a placement to repay the $10.8M funds. It would have resulted in dilution. However, at 20 cents a share,it would only have resulted in an additional 54M shares on issue to repay Hawkswood. He could also have elected to pay the receiver with a share issue in installments i.e $1M of shares each week for 11 weeks and hey presto - the $10.8M loan is repaid and the receiver has received his debt via shares he has sold during each week on the market.
PT hasn't done this so hopefully he is hopefull with his alternative strategy.
Regards
SP
The way I see it PT must have a strategy to repay he is working...
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