Ann: Update on institutional standby funding, page-2

Interesting comments by Andrew. It will be very interesting to see what happens with WKT next term sheets or if they will be similar,

. Most of those alternative sources of funding considered by the Company were too costly, and/or do not provide an adequate amount of committed capital, and/or were too dilutive, and/or could not be executed in a timely fashion

As I have pointed out WKT still hasn't issued the shares to BMCG, which means the agreement isn't binding (as yet) and this announcement also fails to mention or detail the liquidity requirement of the first announcement, It will be interesting if BMCG still has this requirement.

@Croc-file This might explain why BMCG hasn't been selling, when the company was still negotiating the deal and were yet to issue the shares to them. It will be interesting to see what happens when the first trench is issued and when BMCG starts converting their US$2.5mil which remains unconverted.

Didn't I say the other day BMCG could still convert at 9c?