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4.2¢ magnis energy technologies ltd

Ann: Response to ASX Appendix 5B Query, page-46

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Rat1973

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14/08/18

15:39

Post #: 34928733
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Originally posted by 564xxl ↑

Hi Slogger
I see where you are coming from. Let me explain
It generally isn't a bad thing to lock in a key supplier as a cornerstone investor where their services are swapped for Shareholding.

But right at this point MNS will run out of cash in 6 weeks if not sooner. Surely you understand that MNS therefore needs cash from its "cornerstone investor" and enough to pay for a ton of commitments already made not to mention day to day operating expenses. Cash that has to be in the bank in 6 weeks or less. Its all about timing. Better timed yep bring them in and give them shares...but that won't help MNS right now.

Hope the difference makes sense. I genuinely hope there is an announcement really soon that details the cornerstone investor/s and that the investor/s aren't using the perilous MNS cash position to significant ratchet up the % of the pie they want in return (because its one hell of a bargaining chip....I imagine if they held off for 4 weeks they would get a bigger slice )

Hope that clarifies my comments

Cheers
564xxl

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Whether it be some investor or a traditional CR, facts are that the company needs cash fast and it ain’t going to be raised above 30c

MNS Price at posting: 33.0¢ Sentiment: None Disclosure: Not Held
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