What do you mean? They're committing that amount of money, but if it's part of the placement then it's no longer a debt. They're also seeking to convert it all to equity. Criag and Niall are putting their money behind CDX. I do expect the capital raised to be at about 11c.
My thoughts to Craig and management, reduce your cash remuneration, reduce cash burn where possible. Once the company is in a stronger financial position, then you can pay yourself the big bucks and invest the $ without issue. At this point, cashflow and reaching profitability / cashflow positive needs to be a focus. Make your remuneration incentives based on share price.
CDX Price at posting:
13.5¢ Sentiment: Buy Disclosure: Held
