SRF,i was wrong and so are you.Read Section 12.4.Fees and...

SRF,i was wrong and so are you.

Read
Section 12.4.Fees and Expenses
Company shall pay a Due Diligence Fee of Twenty Thousand
Dollars worth of stock to Investor.Company shall transfer
to Investor the Company's Ordinary Shares equal to
five pecent of the Commitment amount upon signing this
agreement.(Commitment Shares)
The pricing for the Commitment Shares will be based off of the Purchase Price using the ten previous days prior
to the date the Agreement is signed.

The 183.8m shares issued to AGS are only the fee
for having the $25m facilty.
5% =$1.25m + $20k in edm shares

And now the SP is below .009 they can't use the facilty
and had to issue 378m shares & options with someone else.

AGS currently has 124m EDM and there are 1795m
EDM on issue.
Even if the sp was 1.1c the most AGS could issue would be just over 50m shares @ 1c before they go over 9.9% ie $500k,other wise AGS have to sell more shares if EDM want more finance.

Vicious circle imo.

BTW,MDA have the same deal with 1.4c minimum
and AEX with .003
AEX has a $5m facilty and their fee was
$250k +$20k in stock.

EDM might have to consolidate like MDA or push this really hard over 1c with good news.With AGS and the new .4c shares
it will be hard.
Hope they find something for eveyone's sake.

Pity the PDI announcement on friday was next door to the edm jv.
Maybe soon.good luck
Just my opinion.dyor