IMO:
Payment in shares because they have no cash and no other way to pay debts.
They now have already used at least $5M in a credit facility at 36% interest. I suspect this creditor won't accept payment in shares.
This is why CLZ raised funds with the CN's to pay debts to creditors that won't accept shares anymore.
Also the rationale for the Loyalty and Piggyback options but as the SP has tanked this means funding options are now severely limited.
What kind of funding desperation will be hatched next?
The SP was always going to tank after consolidation as I believe it only occurred to make the CN's saleable.
COMPLETE DESPERATION!
IMO:Payment in shares because they have no cash and no other way...
Add to My Watchlist
What is My Watchlist?
 (20min delay)
|
|||||
|
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 |
Day chart unavailable