Ann: EN1 August 2019 Trading Update, page-152

Before it is forgotten I want to highlight what is said about 3B in fireside chat. If anything is certain from the chat it is that we will see more 3Bs. I think he said something like 3.5 million dollars to be settled by issuing new shares. Even if it is at 3cents a share, that is a big number of shares coming through. Personally I would have wanted him to settle part of it by the revenue generated in q4. However it is his company and he is adamant it has to be scrip and not prepared to divert some money to settle the debt. He is fixated on this hypergrowth at the cost of dilution. If you remember initially he said 3Bs are to clean up the balance sheet and to get loan. Now that he has got his loan, he could settle the remaining legacy debt slowly using the profit. But he has changed the tune now. Exactly this kind of inconsistency is what has caused issues.

I am all for dilution if it is required for the survival. If you believe the company projection for q3 and 4 they are not on life support and instead are going to make profit.