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Hi sydneyguy To clarify pt 7, the $1m in firm commitments is for...

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ryanl

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18/10/17

06:23

Post #: 27984087
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Originally posted by sydneyguy ↑

As I said last week, still shocked such detail is provided here when announcement was still pending

- that aside it's a good plan imo

-1 -they are now looking at trade finance- already secured 1 m via investor for short term and looking at other finance partners- this is an improvement and something discussed as a negative in the past because of very expensive terms and small amounts

2. They are not seemingly raising an amount which is too small this time with the expectation of more small cr-s the following qtr

3. Raising price is being offered to all shareholders- unlike the expensive convertible notes and tiny 60 dollar top for the rest up at a 25 percent premium which was a turn off

4 sales revenue on a year on year basis shows significant growth

5 the use of raising up to 10 percent via a direct placement to and investor ( 200k) hasn't been exhausted and may allow the company to raise more at a higher price this year to another if more working capital is required- i.e.- they didn't panic and place the full amount at 4.5 cents- this show confidence and feels to me like the new cornerstone investor may be helping them in terms of getting significantly better financial terms

6 Investor has not only put in 4.5 cents- there is also trade finance provided in the short term to allow order flow to continue and not be missed because of capital raising/ timing- they can still
Concerntrate on completing orders not worry about money to complete it- this will keep orders going and the customers happy

7 there is a firm commitment for 1 m of shares in the offer tied to repayment of the short term loan of 1 m - this show the investor ( to me anyway) was flexible and fair and allows the company to focus on sales rather than looking at bank balance and stressing--- this was very positive imv

I'm Eligible to Buy and I'm glad to invest in the issue based on the details provided and via on market transactions

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Hi sydneyguy

To clarify pt 7, the $1m in firm commitments is for any shortfall under the pro rata offer. So for example, if there is no money received from shareholders, they receive $1m of the shares. Any funds received from shareholders for their entitlement will reduce the amount the providers of the firm commitments will receive.

Also, not sure about your comments in pt 3, but we are required to lodge a cleansing prospectus which can be a rather confusing document in that it states we were raising 1,000 shares at 6 cents ($60), when we actually raised $400,000 under it.

Anything else please let me know!

RBO Price at posting: 5.3¢ Sentiment: None Disclosure: Held
8 Upvote

0 Great analysis

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