Ann: Reinstatement to Official Quotation, page-87

ah see, they can always just do another cap raise to pay back the new loans, or offer the 708's a debt for equity swap, provided they don't go over their issue limit again.


what irks me is the two loans that were paid out via this round of funding are related parties, with SCM ARIE being under control by JT, the other loan was also a major shareholder.

I also couldn't see any direct reference in any previous announcements about these loans,
but perhaps and most likely I just missed it somewhere, if anyone knows when or which Ann they were initiated in, if they could point me at the document / section?

I'm guessing the change in trustee notice a few weeks back, was to somewhat mitigate this issue, to give it the appearance of an 'arms length ' transaction. but looking at all the addresses etc it all ties back to the Netlinkz and SCM headquarters.

it's interesting that they only redeemed $4.x M of the notes, rather than the full 5.4m they mentioned previously, does that indicate the other holder like Atlantic redeemed for shares (allowing for another $1m ish cash flow) - but haven't seen any notification for this, or they're just carrying it. can probably guess who the outstanding notes are held by.

@hoytaedwardo I agree with your previous assumption that the SSI purchase was out of desperation to show they would have local revenue coming in (without disclosing the cost of sales of course) in order to show the company is still an ongoing concern

there's a bankruptcy document floating around for an unrelated company that mentions the SCM ARIE fund as an asset, the administrator of which is Grant Booker, I'm sure you can google it, but if I get time I'll see if I can find it again, there was an interesting tidbit about Netlinkz referenced in it.