Any thoughts regarding this ann ?"An amount of $581,000 has been...

Any thoughts regarding this ann ?

"An amount of $581,000 has been loaned to the Company, the loan is from non-related parties.
The loan constitutes an interest free loan to be repaid by the issue of equity as per
Resolution 3 - to approve Placement of Shares and Options – of the Notice of General
Meeting, to be held on 28 July 2004, which covers the issue and allotment of up to
200,000,000 ordinary fully paid shares ranking equally in all respects with the existing
ordinary shares.
The loan is not repayable and in the event that shareholder approval is not obtained at this
meeting the Company will issue equity, at the earliest opportunity...."

I read this as NO ann until August at least. NOT A POSITIVE ANN IMO :(
Lot's of investors won't put their hand in the pocket and give what the co. wants. Show us the contract first !