You are not quite accurate. 1) The first three months of the 15% pa is paid in advance. So that's 1/4 of 15%. 2) The conversion rates are comparative to other market offers of this type. You seem certain that they are not so you must have some examples to say otherwise. Happy to review these alternative lenders that are offering such great deals because we'd certainly like to know them. 3) Its important you look at both sides of the coin. Its easy to support an argument by only looking at those outcomes which support your assertion however please explain to this forum what would happen if the shares went down. To get financing whilst in suspension is tough to say the least. 4) This loan is secured against the ELF loan book, not ECT Limited. Its what's commonly called a securtisation loan.
Your particular questions are leading so I wont be answering those.
The board makes decisions in the interests of the company, the shareholders and the creditors. We act in a professional and compliant fashion when it comes to shareholders, stakeholders, partners and the general public. We make these decisions on funding so we don't get ourselves into "such a risk state" as you out it.
Regards ECT_Rep
ECT Price at posting:
1.3¢ Sentiment: None Disclosure: Held
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