Ann: Zero Coupon Amortising Securities Purchase Agreement, page-82

I seriously doubt that any company would have gone to that much effort of approving financing for upto 26Mill plus USD and call it quits after only offering 1.5Mill USD .. which became available as of 15th September. As for the bridging loan you will probably find it is the 1.5Mill USD that has already been provided as this whole agreement wasn't signed off by 15 September otherwise the announcement would have been done earlier. My guess is that it was signed off probably on the 18th or early 19th our time which co-insides with the trading halt. The agreement works both ways and EN1 can stop it if they wish (or get a better offer elsewhere).

As for being profitable .. we weren't that far off in August and the evidence we have from the fireside chat with the first week of Sept being 20% better than August would lead me to believe that September will be profitable.

This company needs money to make money .. even if all that it gets is a further 3 Mill USD (1.5Mill initial and 1.5Mill tranch 2) that should be more than enough for it to be profitable for the remaining good months. Don't forget that the sales are generally split 1st half year 35% and 65% the remaining half year with Oct to December being the greatest sales periods of the whole year. With the money that EN1 already had it would have probably been profitable enough during Oct to December to be profitable for the whole year .. it only needs to make up about 800K deficit.

The money is for hypergrowth not just to be profitable .. chances are EN1 would have been profitable by end of year with the money that it already has.