The company has most likely already issued the draw down notice to GEM. But the volume needs to average 5-7m a day for the company to get any decent amout of funds.
The seller without doubt is GEM using their 7m shares they got in leu of $500k facility fee.
In my previous post 1m a day average turnover would only raise at these prices ~$300-350k which is nothing.
Ann: Application for quotation of securities - WFL, page-34
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