Ann: Extension to Entitlement Offer Closing Date, page-11

No investor is "out to screw BUD". The company has been screwed by the CEO and Chairman since its ASX listing. The latest screwing was the absurdly debilitating finance deal with PFG. This is a deal which will be almost impossible to get out of due to the shares issued in lieu of excessive fees.

Do PFG care? Why would they? They will end up with 15% of the issued capital, while also having 100% of the company's assets as security should BUD default on its debt repayments.

BUD will be in a position where the only pace they can borrow money is from PFG, because no one else can offer security. If they cannot borrow, they need to raise capital. But PFG will have so much equity, they can depress the share price and make it incredibly difficult to raise funds (sound familiar).

The continued efforts to raise funds through this EO are signs of desperation. Could this be a sign that sales revenues are insufficient to meet liabilities? After all they still haven't fulfilled orders from 2020!!

Now, in the interests of some balance I note they are yet to update the market on the receipt of the chips which were expected about now. Perhaps, this announcement will be made in the coming days? Mind you, the silence on this is deafening. Here's what was in the prospectus:


It's way past early August.