FAS fairstar resources limited

Deal terms differ

  1. 645 Posts.
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    little wonder the auditors cannot get sufficient audit evidence as to whether the Company will draw down on its too good to be true convertible note agreement,when FAS itself cannot seem to have consistent position on a key term of the agreement.
    The statutory accounts signed by the directors and lodged today states that the company entered into the agreement with Iworld on 25 October, which provided that funds would be advanced at no more than $500k per 5 working days.
    yet the announcement to the ASX on 27 October FAS announced that the drawdown would be no more than$800k per week. So why the difference,has the deal changed or is it still being negotiated?
 
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