check Page 3. We need the loan because we don’t want to run the operation and realise we need money to continue until our debtors pay us in 3-8 weeks time. If the situation gets worse then we will be getting worse loan like 20% and above and issue options with their terms. Now we did it to be in safe side and to avoid future disaster. Soon we will have more cash than less liability and we should be able to pay them off early to save interest. Issuing warrants @2.07 shouldn’t give us pain because it is above our current market price.
Ann: Kingsgate Financing Update, page-39
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