So - PRR never revealed the terms of the Fortrend facility (at least I don't think they did), preferring to crow that "everybody wants to be first to be second" in contributing funding to the company - the quoted words are direct from a conversation that I had with Marty.
They then go and announce a facility that is very very similar in concept to the Fortrend proposal (in that it is a periodic drawdown & conversion to equity) with:
- an entity that has raised US1.15 million in capital thus far, and that
- features as one of its three principals a gentleman whose previous gig was representing OPES Prime in the USA.
Raises the question really - just how toxic must the Fortrend facility have been for Figtree to be a better option???
fortrend vs figtree
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30.0¢ |
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Mkt cap ! $421.2M | |||
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| Last trade - 11.29am 05/07/2024 (20 minute delay) ? |
| IMM (ASX) Chart |