$4 million loan is from the company's major shareholder and will be repaid either when/if there's a change of ownership/holding up the top or when/if the company goes into development.
I'm sure the long term idea is that everything goes well towards development, the share price is higher and there's an option for the creditors to take shares for a cheaper price as opposed to getting paid back.
Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-3
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Last
24.0¢ |
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-0.010(4.00%) |
Mkt cap ! $122.0M | |||
| Open | High | Low | Value | Volume |
| 25.0¢ | 25.0¢ | 23.5¢ | $111.1K | 457.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 125287 | 23.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 24.5¢ | 44602 | 1 |
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| MM8 (ASX) Chart |