As far as raising money outside of the "usual" procedures of a listed company, then yes, i have heard this and seen this before. There are often individuals or groups who will raise the capital in order to gain something specifically from the investment. Quite often these groups raise the money fast and in this case it is quite substantial.
I would not be surprised if this particular group would be receiving royals from the gas and oil that is being pumped from AKK's projects. We will never know exactly who and how much, but I get can bet that when AKK says for example: Net Revenue of 65%, well you know that roughly part of the left over goes to the investment group/s. Also,don't be surprised if the investment group receives shares and/or options.
Anyhow, I know the $5 million came from an investment group located in Melbourne, Australia. The group comprises of sophisticated individuals and property developers. If you do a background search on AKK's new director Mr Pellicano I think it will answer your question. Other than that I cannot say anymore.
tw
AKK Price at posting:
12.8¢ Sentiment: Hold Disclosure: Held
