I seem to remember that the last time NME had a Capital Raise the bulk of the funds were used to pay off a $1.8 mill Convertible Note.
Given that the company owes its Directors,who have run the Company into the ground,$2 mill whose interests would be first served if a Capital Raise were possible.
I would sincerely doubt that the existing Shareholder Base would contribute under these circumstances.
The Company is trading whilst insolvent and should be wound up.
Ann: MCT Takeover of NME - Dispatch of Letter to NME Shareholders, page-24
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