"Whose conditional requirement was it that SG goes? IG asking...

"Whose conditional requirement was it that SG goes? IG asking for that of Gem or Gem coming to that conclusion by themselves? - substantiated of course please!"

From the IG email:

"the one condition from the funder that Mr Graves resign from the board as chairman. No request came for his resignation as CEO. "

It was the FUNDER (ie GEM). But note it's only stepping down as chairman but continue as CEO.

"Can someone post a link for this GEM Equity company that was offering funding?"

www.gemny.com

They have a few subsiduaries in other countries with other websites.

"Am I understanding correctly that the 9.9% drawdown cap equates to market cap when drawn down - so if share price goes up the drawndown as a % comes down - so they can in fact draw additional funds - kind of like drip feed on success?"

That's correct. That's how the companies sell it. Main feature really. But the con notes were the same. Rising shareprice and Novus would have been loved by all. SG would have been genius.

It didn't work that way, and rarely does with line of equity providers or con notes. Search for La Jolla, Sprintree, Bergen. Many examples on asx. Most end up terminated early. The are a cancer.

"Wondering why IG haven't put up the business plan and spreadsheet (I know I'd be interested in the estimates), given earlier dissemination of information."

Yes, would be interesting to see. I don't know how reliable the publicly available information. Certainly the companies own projections have been way off target.

But would be interesting to see why IG are so upbeat about our prospects especially when they are fully aware of all the details of the legal cases.