Exactly, CLZ were expecting the consolidation to increase market confidence in CLZ, a big WRONG there!
The so called Loyalty options were going to raise $5.15m which they stated would get them to production.
Piggyback options same amount of $5.15m
The Piggyback options are offering once Loyalty options excised at 1 for 2 at double the price of Loyalty options excise price.
Who will buy Loyalty options @ 5c ?
Who will buy Piggyback options @ 10c ?
NO ONE of a sound mind.
The 5m credit line available is an existing financial arrangement at 33% interest, they already owe $5m so if the credit line is used they owe $10m @ 33% interest!
Add $4m on Conversion Notes (a liability when not redeemed) and that's potentially $14m in DEBT!
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Last
0.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $3.017M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
| CLZ (ASX) Chart |
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