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But deal was already voted on and passed?They just couldn’t get...

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nathanredfelt

419 Posts.

90

03/02/23

11:32

Post #: 66051525
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Originally posted by brookville: ↑

They seem to have got $100,000 of debt on their balance sheet. I'm not sure when this is due, but it looks like shareholders will have to vote for this deal otherwise the company will automatically go into administration (this is a question - not advice). If there is no chance of raising the money, I don't know why they would extend the period - any thoughts? I would have thought that as a creditor, the lender would have some sort of "ask" on the escrowed shares. So from a shareholders perspective (regardless about what you think about the deal), it seems (again not advice), that it may make sense to "go with the flow". Please get your own advice on this....I'm just putting some thoughts in writing!

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But deal was already voted on and passed?
They just couldn’t get enough capital to complete it

CRL Price at posting: 2.0¢ Sentiment: Hold Disclosure: Held
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