Quoting from ASX announcement
”Dr. Kreuter will also receive 50% of any payments received from certain debtors to GeoT, if these payments are made to GeoT within 18 months of completion of the acquisition.GeoT owes a debt of approximately €140,000 (plus a nominal amount of interest) to Dr. Kreuter, 50% of which will be paid within three months of completion of the acquisition, with the remaining 50% to be paid by no later than 31 December 2021.GeoT has further debt of approximately 135,000 EUR, plus interest accrued in 2020.”
That is nearly €300K. .of debt. Not emotive .
Would you pay €1 to acquire a liability of €300K
As I said the optics are not good imho.
Ann: Acquisition of world-leading geothermal team, page-72
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