As a continuation of unfair insider loans, CEO David Mason and biggest shareholder Neil Francis Stuart
have provided additional 100 000 AUD loans each in addition to previous loans of 50 000 AUD, capture 1.
The release refers to release from January 9th 2023 for the conditions. The earlier loan(s) were secure by 500 000 LKO share
for 50 000 AUD funding, see capture 2. The interest of the loan is 12 %
This means there are loans worth 300 000 AUD with security of 3 million LKO shares during 2 quarters
meaning:
i) LKO security as guarantee and its price of 0.1 AUD, t his would mean share price about 0.9 cents and the total value of 0.9 million
for the NPM shares.
ii) 3 million shares is about 30 % of the LKO shares owned by NPM. The shares appears to be only liquid property of NPM. This is result of financing for about 6 months
iii) if financing would continue about one year longer, CEO Mason and Stuart would own all LKO shares
iv) Massive dilution of 90 % or more in 1-1.5 years, latest after 2 years when the loan terms would expire, Mason and Stuart may have right to convert the loans to NPM shares, this is indicated in the Q4 cash flow report of NPM, see capture 2 and 3.
The cost structure including director fees means substantial dilution with the current value of the company.
Capture 1. New Peak´a Release of Jan 30th 2024
https://hotcopper.com.au/threads/ann-31-december-2023-quarterly-activities-report.7820944/
Capture 2. New Peak´a Release Jan 9th 2024
See page 2: https://hotcopper.com.au/threads/ann-change-of-directors-interest-notice.7793995/
Capture 3. Ann: 31 December 2023 Quarterly cash flow report Appendix 5B
https://hotcopper.com.au/documentembed?id=uOMxKKzFkiWRTLKhOROKAxjvSDYL5g69zxHxv%2Flp8rFiGug%3D
