Shouldn't of been modded and I commend you for seeking more context from the horses mouth, but its not like AC was going to say 'oh you got us' now we are in trouble.
AJM were very specific on at least one of the LNH legal fee they paid, I would think given this disclosure had they paid more of the LNHs legal fee's they would of made a mention of it, doing so somewhat builds on a narrative I feel isn't accurate. Regardless 140k is not 1.2M.
And this from the September 1/4 (I know there is a 2k discrepancy but this is where the loans came in)
Had they not provided those loans during the September 1/4 the cash on hand would of looked very dire.
The story that these loans were provided for LNH legals earns at least 3 Pinocchio's just based on the above snips without even considering the past loans provided for working capital, an admirable trait of the BOD but one that I think ultimately clouded sound decision making. In the absence of disclosure to the contrary you have to accept the due date for repayment of these loans at face value, if you were more cynical you would take the statement regarding legal fees not being backed up by previous announcements and also the fact they would of had about 200K in the bank at the end of the Sep 1/4 without the loans and you would be asking a pointed question to AC to clarify that statement.
If the loans were provided to pay legal fees and were due to be paid back prior to the new deal due to occur on the 26th then how did they know at the time they provided the loans (prior to end of September) that milestone 2 would slip past the 10th of October?
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Alex also mentioned that the creditor report being referenced by some here was only authorised for sharing with the creditors so its interesting to see that non-holders have obtained copies.'
People here generally reference the administrators report, two separate docs, you also shouldn't assume non holders are not also unsecured creditors.
I know you don't believe anything I say despite the attached parts of AJM announcements, you should apply that level of skepticism to the people you really want to take at face value. AC is good people and will do well for the company, he doesn't need ghosts of failures past derailing the future.
(20min delay)