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Ann: Issue of Shares to Vendors of Ecopropp used Incorrect VWAP, page-169

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DDuck

806 Posts.

42

15/12/16

08:36

Post #: 21350273
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Originally posted by BrayWyatt ↑

There hasn't been any big dump of shares recently so insiders must be confident of raising cash to keep the gravy train going.

You have to look in the annual report to find basic info about the Hallmark JV and that another $4million is needed just to get to production stage which is estimated in around 9-12 months time. Adding in a few quarters of their consistently excessive cash burn of around $1.8 million per quarter and it is up around $10million needed and they still need someone to actually pay for their product. Lanstead funding only covers a portion of wages, maybe the $350k equity investment that is so far unaccounted for will deliver?

With production capacity of many times the usage in India, where will they find someone willing to deal with them when a basic google search about the company comes up with a Courier Mail article about their misadventures.

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Will be interesting to see the actual gain on these investments that they have been going on about as well as a cash flow statement that has been subject to audit review.

LWP Price at posting: 0.2¢ Sentiment: None Disclosure: Not Held
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