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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1.1¢ |
Change
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Mkt cap ! $1.393M |
Open | High | Low | Value | Volume |
1.1¢ | 1.1¢ | 1.1¢ | $29 | 2.667K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19407 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 350000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19407 | 0.011 |
1 | 90666 | 0.010 |
2 | 185749 | 0.009 |
5 | 851048 | 0.008 |
4 | 893114 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 350000 | 1 |
0.013 | 38590 | 1 |
0.014 | 95043 | 1 |
0.015 | 508103 | 2 |
0.025 | 14912 | 1 |
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