The way I see it is, the directors had $470,000 of unrecoverable debt (it was actually just pay they previously forwent due to the poor performance of the business) and saw little chance of seeing it paid.
This cap raise has managed to returned $132,977.74 + $147,449.75 back to the company (the directors)
They've managed to recover $280,427.49 out of their debt, plus also get a bunch of new shares in exchange of their debt.
I really hope holders understand that out of this cap raise, they've only managed to add $280,427.49 to their books. Please ask yourself, what is the chance of NIU attempting to raise cash again or, even worse, become insolvent.
NIU Price at posting:
0.2¢ Sentiment: Sell Disclosure: Not Held
