Lind Partners

A good artcle in this weekends Australian. I am sure our directors have done the right thing by exiting this agreement.
Lind has a chequered history including Metal Storm and Range Resources. Range had a similar funding arrangement to ours, having drawn down 5.5 million of a 15 million facility. The share price collapsed through Lind selling stock it was issued as repayment for the loan. Lind swiftly lodged a statutory demand for 7.2 million despite Range's offer to buy back Linds convertible security through a new 60 million funding package.
As an aside, I had a chuckle at W27's recent post when he said ' At the time Garner sold I suggested he was selling to take up his entitlement in the rights issue' when in fact at the time March 26 W27 posted ' he was selling because he is short of money and has no income.' Maybe is getting confused with my alter ego, because on March 27 I posted my reply which was 'My guess is he will use the proceeds of the recent sale to buy back through thr rights offer at 2.5 cents'