You cant just whip out a SPP. You have to provide full disclosure eg Prospectus financials ect..
Hence the SI's offer was short and sweet but the SPP has to be good... SI offer was for Working capital 100% paying bills, wages,
I suspect the 400K will keep them going (for now)
So yes they didnt have anything right this moment and need funds ASAP but now they need to get the ship back on track for themselves (if no1 else)
Ann: Capital Raising and SPP For Taronga Stage 1, page-52
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