KTE (ASX) My thoughts on KTE

I've been reading over the SEC fillings of Mears.

They can be found here:

http://www.sec.gov/cgi-bin/browse-edgar?CIK=0001420520&action=getcompany

From my calculations they have raised $7m in equity and raised $20m in debt (convertible notes).
Can someone check these, I'm pretty sure that's right? Total would be $27m (excluding original founder investments).

It looks like they struggled to raise cash from 2007-2011. Obviously that's during the financial crisis.
However that last debt raising at $14m looks extremely bullish in comparison.

As long as global markets remain sound, it's probably going to be a $100m IPO.

I guess that explains why KTE is trading at 3 cents today - it's 50/50 weather it will IPO on time.

----------------Offer of Equity (total 4 amendments)-----------------

Filling date: November 2007
http://www.sec.gov/Archives/edgar/vprr/07/9999999997-07-050605
Type = Equity.
Offer amount = $15m
Amount sold = $4.4m.
Total investors = 35

Filling date: Feb 2009
http://www.sec.gov/Archives/edgar/vprr/09/9999999997-09-004771
Type = Equity
Amount raise = $500k (4 investors)
Aggregate total = $4.9m
Total investors = 39 (to date)

Filling date: August 2011
http://www.sec.gov/Archives/edgar/data/1420520/000142052011000003/xslFormDX01/primary_doc.xml
Type = Equity
Amount raise = $600k (16 investors)
Aggregate total = $5.6m
Total investors = 55 investors (to date)

Filling date: December 2011.
http://www.sec.gov/Archives/edgar/data/1420520/000142052011000005/xslFormDX01/primary_doc.xml
Type = Equity
Amount raise = $1.4m (9 investors)
Aggregate total = $7m
Total investors = 64 investors (to date).

----------------1st offer of debt-----------------

NEW OFFERING OF DEBT:
Filling date: October 2014.
http://www.sec.gov/Archives/edgar/data/1420520/000142052014000001/xslFormDX01/primary_doc.xml
Type = debt
Offer to raise $10m.
Amount sold = $6m
From 61 investors (new investors)

----------------2nd offer of debt-----------------

2nd NEW OFFERING OF DEBT:
Filling date: March 2015
http://www.sec.gov/Archives/edgar/data/1420520/000159151115000002/xslFormDX01/primary_doc.xml
Type = debt
Offer to raise $14m.
Amount sold = $14m
From 177 investors (new investors)