Cap Raising Discussion, page-8

hmmm... interest-free "debt" - as a shareholder, my favourite kind!!!

The disappointing part of the AJM financing was the combination of sky-high interest rates (couldn't they just use AmEx and collect the points?) and the hefty share/option fees dilution for shareholders.

While it put no immediate down pressure on the share price (by raising from a new player), it is still very expensive financing - although the share price has held up well.

Can't we get a Singaporean bank to finance some modest project debt (through our partners) at less than 14% - with no equity kicker?