Hi NATOs, that's so funny, we were just talking about a $1m USD Placement to Jinpeng that gave them over 10% of the company and then wondering whether they effectively got their money back by a equipment purchase. And lo and behold, here it is, exactly $1m USD at that.
Here is the post in case you missed it
https://hotcopper.com.au/threads/po...e-graphite.4760479/page-2494?post_id=41442184
So as per my thought of the day, did this $1m worth of equipment cost shareholders over 10% of the company.
Makes the current Market cap look a bit ridiculous, doesn't it? But maybe it's those "binding" term sheets that have made the difference.
Just a thought bubble though.
Here's Michael Elliott, page-40
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