It's a MOU (non-enforceable agreement), it has yet to be formalised, at 5c it is 900% more than the recently completed rights issue and the Director is quoting wikipedia. Not for me thanks but a hearty congrats to the rights issue participants (too late for those buying now) and for those you bought early today. Trade wisely and look out for the quarterly to be released very soon as it will explain their cash position in detail.
NB. They had $352,000 at the end of September with a negative cash flow of $476,000. The issue at 0.005 will raise $1.4m after costs.
SMA Price at posting:
4.6¢ Sentiment: None Disclosure: Not Held
