Hi HongKongPhooey,
Why do you think the shareholders who are providing the loan to WKT are not willing to convert the principal and interest into new WKT shares?
I wasn't aware until I read this ASX announcement Mike wasn't converting his Principal into new WKT shares, yet he is taking the interests.
This latest round of funding doesn't sound great to me.
We have BMCG back up funding which is conditional on liquidity and issuing capacity, deferred payment terms, Share sales agreement if WKT has no funds to pay TNR and another agreement to swap debt into new shares.
Did you read the comments I posted by @Natos regarding unsecured loans?
Well worth finding the post. I can finally see what he means
Ann: Prospectus, page-5
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