How much did CGP pay for BreatheAssist- anyone know?
aventurine, I know Lind is a pest, but a few days ago, she paid $100k for shares @ .008, and she hates to lose a penny. MMZ had a $15m agreement with LaJolla, and now LJ pulled out and MMZ has debts (to LJ and others), potential litigation (perhaps with LJ and others), and no cash to do what was planned. Sometimes a Lind/LJ is better than nothing.
Re the con notes voted for, they are on thse terms:
"Each Convertible Note will have an issue price/face vale of $1. Each 50,000 Notes (with a total combined face vale of $50,000) will be convertible into 3,333,333 Shares at an effective Share issue price of $0.015 per Share. ___________
The company might want to change those terms- they seem implausible now.
Time for Fabio to put up now. The company could do one of those Director-initiated placements, where they give back to the company, as the company has given to them. As I wrote on the PYC threads, most of these Directors on the ASX have become $millionaires due to these companies. If Fabio is a true believer- as suggested by presentations- then he could chuck in a few $mill. Debt is the killer in these speccies (I know this from MMZ), and it makes them even harder to make attractive as a new shell for some wily mining wannabe entrepeneurs, who usually take the shells.
CGP Price at posting:
2.5¢ Sentiment: None Disclosure: Not Held
