I'm hoping this cash grab with ridiculously unfavourable terms is a case of CDX not caring what it costs for the initial production round. Because once it starts they are so confident of its success.
The flipside is Craig is an idiot who doesn't know how to manage a company, or simply is that hard up for cash, or really wanted to do these guys a favour. I think anybody would happily lend money, secured, for an 18% return.
Time will tell.
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