do i read this correctly...The Tsakis circus have mortgaged some...

do i read this correctly...

The Tsakis circus have mortgaged some of their issued shares (from Springsure) for $5m in proceeds (8c assumed value, 40m shares).

This is a BIG positive, as that means directors (Chairmen & Co with Tsakis clan) can not allow shares to crumble further and will require a strong share appreciation to cover any interest.

Must be desp for cash since they swapped Springsure for Equity and no cash consideration. Goes to show that they knew Springsure isnt worth squat, but will run away with 30% equity in much better GUF entity. RORT.

But heres to the director thumbs up that GUF will skyrocket. sooner the better - or theyll have to mortgage more to make up any shortfall to loan...!

Can I mortgage my lot?