Well considered and structured analysis of the subject document...

Well considered and structured analysis of the subject document buddy, good to see you are keeping with your usual high standards of complete incorrectness.

“we have ended up with an amount of total shares on issue of about 309million”

Wrong. Per Page 11 of the subject document we have 433 million shares. But how did we get to this figure? Let’s take a look at the history;

CTP listed in March, 2006 and in the first (2007) annual report there were 165 million shares on issue.
JH removal was announced May 2012, and the 2012 annual report noted there was 1,383 million shares. Wow, now that’s real dilution! 838% to be sure. Of course the seed investors of 1999 can only dream of this level of dilution, theirs was way higher.

RC consolidated the shares 5:1 down to 277 million shares, and since then we are now at the current 433 million. This is 157% dilution. Not great, but pales in comparison to good ol’ JH.

“You can also calculate therein the interest charged to us by the Lender if you wish.”

No need for calculation, the subject document clearly indicates (on the same page as quoted above) the interest was $1.7M, and we also paid down a further $1M. Borrowing money is easy when banks believe you have equity and you have revenue to pay them back.

The only thing your negative camp has is the SP, which admittedly is the true valuer of a company (in the long term). Considering the dilution screwover the majority of SH’s had pre-2013, it’s understandable many others are cautious about rushing in… time will tell however. Bring on the NGP!