>One question why this?As @Mr2jzgte correctly calculated a week...

>One question why this?

As @Mr2jzgte correctly calculated a week ago, and was confirmed in the cleansing prospectus, Netlinkz did not get much of the last capital raising for themselves. They only got $268K (which is much less than Everblu).

The October quarterly reported a cash pile of $2.46m, and a burn rate of $1.78m per quarter. $268K will push them on another 2 weeks or so.

How much does JT get paid again?

"Mr James Tsiolis is paid $720,000 per annum (Base Salary) [and] is also entitled ... to an annual bonus entitlement of 200% of his Base Salary."

The list of other obscene amounts payable to other directors is also in the cleansing prospectus.

All of which means Netlinkz do not have enough money to meet commitments without borrowing at 15% to 20%. Which I would agree looks rather expensive next to the RBA cash rate of 0.1%.

As Country Bob notes, those loans are unsecured, which is why they are so expensive. I would not agree that they are showing great confidence though. The creditors must be holding their breath.