From Roswell Capital website...

From Roswell Capital website http://www.roswellcapitalpartners.com/timeline.html

Their equity funding facility (EFF) has the conditions of

1. 15% of volume during purchase period (max. 15 trading days after the put date)

2. company specific floor(SP Limit)

Based on condition 1, in order to draw $1.5 million, the volume of trades during the 'purchase period' whould have to be at least $10m during the purchase period.

The entire MC of EDM is only $5.6m! EDM will never be able to make use of the $15 m facility if this condition is applied.

Based on Condition 2, there may be a SP limit being set. As long as this is not set above the current SP, there may be OK. (e.g.Roswell may want to have no draw down if SP below 0.006)

Until we see the details of the contract, it's hard to see if it's a rabbit out of the hat or just the floppy ears.