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Ann: Federal Court Judgment, page-4

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431 Posts.

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06/04/23

10:50

Post #: 67166539
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Originally posted by 61289439: ↑

So basically, even if the AG code is renewed (which it hasn't been yet), we have 60 days to pay the seconde Tranche from that date, so they anticipate late June.

If we have until late June, then why raise $5M now? Why not accept Finran's offer of a 0% interest loan to get to the EGM and then after the vote, other funds can be sought. If current BOD gets voted back in, then they can go ahead with their raising, and then there would be no question from us shareholders that what they are trying to do is increase SOI for the EGM vote.

If new BOD gets voted in instead, they may have other ways of raising the capital needed to pay the second Tranche without diluting shareholder value.Plus, by then, in theory, we should have recovered a lot of the stolen money, reduced the working capital needed because of all the reductions in staff, semi-closure of BNPL, etc, and perhaps we have more money than expected.

I still feel Finran's offer of an interest-free loan should be accepted until the EGM so those that currently have shares on issue get a chance at a fair vote, without a new 25% voting block being given to someone through a CR.

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Why doesn't Arron invest some of his venture capital funds from cadence venture capital? or did we already fund that aswell!
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