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4.44%

4.3¢ frugl group limited

Ann: $2.31 Million Capital Raising, page-24

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622 Posts.

17

08/03/18

13:15

Post #: 31618549
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Originally posted by Chrisevans08 ↑

Out of curiosity they cancelled the loan:

'TERMINATION OF CONVERTIBLE LOAN The Company would further like to advise that by mutual agreement, it has agreed to terminate the Convertible Loan Agreement with Golden State Capital, Inc previously announced to the ASX on 23 November 2017. No funds were drawn down under this agreement. '

I have basically no knowledge on the financial side of share investing, but this struck me a little. Would I be wrong in saying, by doing this, they are risking all their potentially access to funding on this credit raising? I.e the share price getting to the point where people will convert their options in Aug 2018? They would need to have a bloody good reason to do that from my knowledge, shortening their time frame to get things done. I would have thought the loan at least could have given them a few more months of cash burn.

IMO and it's generally wrong with wangle.

Expand

The loan was on extremely bad terms and was a rush job done in panic when the ASX started asking questions.

They had no intention of using it, they just wanted to get past the AGM without having to face investors following a CR.

All IMO.

WGL Price at posting: 0.8¢ Sentiment: None Disclosure: Held
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(20min delay)
Last 4.3¢		Change -0.002(4.44%)		Mkt cap ! $4.511M

Open	High	Low	Value	Volume
4.5¢	4.5¢	4.3¢	$3.192K	74.15K

Buyers (Bids)

No.	Vol.	Price($)
1	25000	4.1¢

Sellers (Offers)

Price($)	Vol.	No.
4.4¢	10000	1

View Market Depth

No.	Vol.	Price($)
1	25000	0.041
1	100000	0.040
1	50000	0.038
1	100000	0.036
1	142000	0.035

Price($)	Vol.	No.
0.044	10000	1
0.050	107715	2
0.051	117333	2
0.060	50000	1
0.070	22222	1

Last trade - 15.12pm 29/07/2024 (20 minute delay)

FGL (ASX) Chart