Ann: Results of Non-renounceable Entitlement Offer, page-34

Let’s take this to LinkedIn, other professionals should know how incompetent the CEO and CFO are.

If it isn’t to make a buck for themselves, why would they

1. Give $250,000 to Mercer to just sign an agreement ?
2. Give Mercer the ability to convert their securities at 90% of the VWAP and at a limit price of .0125 , essentially incentivising them to push the share price down further to obtain more shares
3. Raise funds from shareholders at .017 while giving Mercer the ability to draw down at .0125??

They easily could have gotten shareholder funds at .03 with the options expiring end of this month which would have raised 7 million AUD.

Surely they’re either I’ll advised by an incompetent CFO or just a bunch of crooks trying to make a buck in Australia until they take their game back to the US.