Higgo has to talk this up...If he doesn't succeed in raising or accessing sufficient funds the Company will be insolvent and he won't be getting his...IMO overly inflated salary.
Higgo $8,000 per week salary plus Super(For a Company with a MC of approx $47 Million)
Reference:
Page 4 of the announcement...SECTION 4 - OFFER RISK
Insolvency Risk
Section 3.4 of the Prospectus sets out general risks relating to the risk of insolvency where the Company cannot raise or access sufficient funds to meet its working capital requirements. In light of the additional financial commitments the Company has agreed to incur in relation to Mr Boyle’s executive services agreement and the appointment of Messrs Higgo and Baxter, these risks are elevated, particularly in the event that the Company is unable to raise the Underwritten Amount.
Don't shoot the messenger...just factor this in this when making your decision to invest...
TON Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
