Slamdog im not sure i agree with any of your comments, the...

Slamdog im not sure i agree with any of your comments, the company have tried to sell this as a good result instead of additional dilution. When in fact it seems, they are having to pay an interest rate the company do not wish to disclose (ready likely usuary) and have diluted shareholders future income prospects by providing a 12.5% royalty seemingly on any income earned.

They could of issued a couple of hundred million shares at 0.2c and retained 100% control of their cashflows. GC1 have MEL bent over a barrel the terms are advantageous only to GC1.

How this can continue to trade when the company have not disclosed the interest rate and if the royalty will relate to all income is beyond me.

with 15% of the shares on issue GC1 seems to be controlling the place now