Yeah, this is so much better than I expected. My understanding is that:-
Those 50 individuals can pay back the loan at any stage within the next three years. So that's $22.8m in the bank for ECT, less finance cost to ECTF. Of course, this will only happen if the SP is trading well above 3 cents.
The SP will only trade well above 3 cents (consistently) with success. Success = Tech (s) commercially proven, supply agreements in place, offtake agreements in place, and ongoing revenue.
It's a very clever way of buying more time to secure the $'s originally expected from the options when they were originally issued.
AIMO - happy to be corrected.
Ann: Equity Lending Facility Results, page-19
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Last
0.3¢ |
Change
-0.001(14.3%) |
Mkt cap ! $9.515M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.3¢ | $2.902K | 967.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 40 | 17746080 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 12856748 | 26 |
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| Last trade - 15.58pm 03/07/2024 (20 minute delay) ? |
| ECT (ASX) Chart |