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Ann: Business Update - Launch of debt management APP in Australia, page-50

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Oscar09

26,824 Posts.

1309

25/10/21

14:25

Post #: 57050171
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Originally posted by Smash5000 ↑

Most of this debt to the subsidiary companies (for the acquisitions) was paid through issuing them 339,825,485 shares during the 21 FY which represents a 33% dilution. CI1 also received $382,280 from government grants which will likely be a one off (was $35,804 in 2020). This is included in their profits but not in their revenue (was under "Other Income").

This was a good effort I believe for the year which has been tough on CI1, but we have to be clear as to how the company 'magically' got rid of $13m worth of liabilities.

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what price was the 339 mill shares issued at?

CI1 Price at posting: 1.5¢ Sentiment: None Disclosure: Held
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