Yeah, that payable also speaks (partly) to the acceptance of the...

Yeah, that payable also speaks (partly) to the acceptance of the takeover offer IMO. $20m cash with a $12m current liability. They would have had to raise equity before Christmas.

Even after yesterday's huge pump, stocks like WC8 and LTR are still ~15% below their closing price on the 14th August (the day before our takeover was announced).

If you apply this same % to LRS, then we would currently be trading at 10 cents today and with a CR discount applied you end up with a raise somewhere around 8-9 cents.

Of course this isn't me saying that based on the above the takeover was a good idea, but it paints somewhat of a picture.