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Ann: Reinstatement to Official Quotation, page-65

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Mr2jzgte

256 Posts.

121

23/12/20

15:55

Post #: 49784357
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Originally posted by Ganesha: ↑

BOTH:
1) Funds from the Placement will be utilised for repaying outstanding convertible notes, AND
2) Inaddition to the issue of Shares under the Placement, the Company is also proposing to issue:
(a) an aggregate of 103,869,159 Shares on the same issue price as the Placement (and 51,934,580 options
on the same terms as the Placement Options) to certain existing lenders who have elected to offset their
existing loans (of an aggregate amount of $6,232,150) against a subscription for equity in the Company
(Loan Offsets)

I hope that clarifies your predicament; This may be expensive (all raisings are) but this will substantially clean the Balance Sheet. FYI I just bought 500K shares at 6.1c and have another order of similar at 6c..as I feel confident this is oversold..

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hmmm looks like my initial back of the envelope numbers were accurate.

only $268k towards operations/funding. The rest is cash for mates and fees

ouch 4.9c.

NET Price at posting: 4.9¢ Sentiment: None Disclosure: Not Held
2 Upvote

2 Great analysis

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