They're seeking approval to issue $10mill worth of shares to sophs - at between 2-3c - so up to 500mill additional shares. If obtained, they'll use $5mill of that to repay the $5mill tranche owed within 3 months of approval.
If approval is not given other forms of funding are proposed - one of which is a rights issue.
I hope the proposal gets defeated - a rights issue looks after retail holders - like us little guys.
They're seeking approval to issue $10mill worth of shares to...
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60.5¢ |
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Mkt cap ! $50.37M | |||
| Open | High | Low | Value | Volume |
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| Price($) | Vol. | No. |
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