Yeah, that's what's remaining of the $25mil credit line with Dutchess.
The paragraph in the letter regarding this facility which I think is most crucial here, and which I can't quite parse, is this:
"Each time the Company draws on funds, it is able to set a base price below which it will not sell shares to Dutchess. If during any day in the pricing period the daily VWAP is below the base price set by the Company, this VWAP will not be used in setting the issue price. Dutchess may also, at its discretion, reduce the amount of funds received under the drawdown by 20% for each day that this occurs."
Perhaps someone more learned can explain how this condition may or may not be an issue given the current share price.
MST Price at posting:
0.1¢ Sentiment: LT Buy Disclosure: Held
