There will be some interesting revelations when YPB submits at the end of April their Appendix 4C report for the March quarter. By their own admission, YPB has gone through the $1m of funds provided by JHH because in the announcement yesterday, the $2m CR is needed for the $100k down payment to be made to NVISO.
There will be a little relief from the $250k court case win.
The outgoings from the $2m CR will include the $100k payment to NVISO, $120k to EverBlu for being the lead manager in the CR. The outgoings may include a small portion of the $140k YPB estimates it will need to pay external contractors so the bulk of the CR will still be unspent. There will be outgoings if YPB does as it said it would and use the CR to reduce debt, so the amount for this outgoing will determine how much of the $2m raised is left for working capital and how long it will be before they need to do another CR or lock in a loan scheme with JH.
A check in coming days/weeks of their share register will identify the investor(s) behind the $2m CR as with 450m bought they will be by far the largest YPB shareholder. It is unlikely they will have sold/dumped any of their allocation as YPB's share price will be expected to be below the 0.444c buy price.
YPB Price at posting:
0.5¢ Sentiment: Sell Disclosure: Not Held
