When you get a chance, could you please give us your explanation of how BRN were able to arrange the recent put option financing agreement.
1. A $580,000 fee
2. Call options at a 10% discount to the VWAP.
2. 75 million free options with a strike price of 15-20 cents.
3, Providing shares as collateral for the loan.
https://www.asx.com.au/asxpdf/20200813/pdf/44lgbhdk9xrkkb.pdf
You be hard pressed to get a worse deal.
It is surprising that the company has not gone bankrupt?, page-81
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