tasdiq any realtion to hardiq?
FYI re the Fortrend $12m funding facility this is last resort stuff and usually these types of things are only ever drawn down to fund the company on a very short term basis whilst other funding (ie a convertible with fixed/floating charges is put in place).
The Fortrend facility, infact is essentially a volume restricted death spiral convertible security...once it gets drawn the SP inevitably spirals downward as the provider in 99% of the cases (in this case Fortrend) are not holders of the stock that gets issued at say a 15% discount to the 5 day VWAP.
In many cases they sell into the market on receipt of a draw down notice by the company and then close out the short position with the primary share issuance from the company.
There is not ONE (1) example of an ASX listed company using such a facility that has either (a) survived or (b) not gone into free fall...if anyone can provide an example I will happily retract this last statement.
cheers
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tasdiq any realtion to hardiq?FYI re the Fortrend $12m funding...
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