Gucci you refer to NET's position as "messy". You are generous....

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BeezSydney

110 Posts.

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18/07/20

14:48

Post #: 45955891
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Originally posted by Gucci: ↑

To be honest, I am a little loss in the chronology of events which have occurred with the Equity Funding of the Company; it has been messy
especially since Everblu got involved and still I believe that the Company could seek legal action against them regarding their services provided
not in compliance with ASX however I always refer to their Audited Financial Statements where you know the information will be accurate;
We could only wait and see what the Company will do in terms of additional funding and there are no need to speculate any longer...

As per Notes to Audited Financial Statements ended 30th June 2019;

"Netlinkz announces that it has signed a 3-year capital commitment agreement with GEM Global yield fund LLC SCS, a
New York based private alternative investment group, which has agreed to provide the company with up to AUD $29
million through a share issuance funding facility over the next 3 years. The Company may use the Facility to draw down
funds in tranches in exchange for issuing new shares to GEM over the next 3 years (subject to terms). Should the
Company decide to utilise the Facility, a draw-down notice will be issued to GEM, specifying the number of shares to be
drawn under the Facility. As part of the transaction Netlinkz will issue 86,000,000 unlisted options at an exercise price of
$0.037 with an expiry date of 31 January 2022. 83,800,000 options were issued on 31 January 2019, the remaining
2,200,000 options will be issued from the Company placement capacity.
First Drawdown notice saw Netlinkz receive funding of $1,603,760 in May 2019 (net of commitment fee) and a further
significant funding drawdown of $1,287,000 in June 2019 which should fund all activities of the Company for next 6 months
Netlinkz has not drawn on the QMAC Facility this financial year. It should be noted that there will be no further drawdowns
from the QMAC facility. The Current drawdown amount of USD $975,000 was repaid through issue of options with a NIL
strike price and any Charge associated to be extinguished.
Options exercised has provided $2,044,385 of additional capital which will be used to accelerate the Go To Market
Strategy with iSoftStone
Share price & trading volume improvement has increased value of GEM Facility."

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Gucci you refer to NET's position as "messy". You are generous. NET is a train wreck that has finally collided with ASX listing rules. NET can not get out of trouble using another capital raising. NET has been forced to use debt funding. Problem is there is no lender there that will lend to a company that can not service its debt.

NET Price at posting: 5.8¢ Sentiment: None Disclosure: Not Held
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