If we still have the cash in the bank? Why can't we pay off the debt and do another CR instead of issuing shares to the financier with such a lower value (compare to the current market price $0.03)
From the ann:
offer to ECP (or its nominees) 20,000,000 Shares at a deemed issue price of $0.00001 to raise $200, to be issued with the issue of Convertible Notes under Tranche 2;
350,000,000 options to acquire shares in the Company, with an exercise price of $0.004 each, expiring 3 years after the date of issue, to be issued to ECP or parties nominated by the ECP at an issue price of $0.000001 each to raise up to $350 (ECP Options), to be issued subject to shareholder approval;
And why we need to pay the sum of $400k?
If the shareholder approval is not obtained on or prior to 31 July 2015 in circumstances where the Company has secured equity or debt funding of in excess of $100,000 from a third party, then the Company will pay ECP the sum of $400,000 (plus GST).
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Last
1.6¢ |
Change
-0.003(15.8%) |
Mkt cap ! $2.026M |
Open | High | Low | Value | Volume |
1.8¢ | 1.8¢ | 1.5¢ | $916 | 58.59K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4348 | 1.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.0¢ | 10000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4348 | 0.017 |
1 | 10000 | 0.016 |
1 | 18250 | 0.015 |
1 | 90000 | 0.011 |
5 | 407289 | 0.010 |
Price($) | Vol. | No. |
---|---|---|
0.020 | 10000 | 1 |
0.025 | 6701 | 1 |
0.036 | 30303 | 1 |
0.038 | 175000 | 1 |
0.039 | 5847 | 1 |
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