OK, just got off the phone with one of the directors, PF.
Disclaimer; This information is widely available to any holder should they wish to make a call OR send an e-mail. I am not reporting privileged information at all, just stating the answers to my researched questions. I simply called as a holder requesting any clarity that can be legally provided to me via the company.
I asked;
1) I understand you are not able to disclose to me personally whom the shares were issued to as that was not directly disclosed to the market, however can you pls clarify the purpose for the issue - is it share remuneration for past services rendered or part of the new acquisition diligence ?
Answer; Share placement was provided as payment to past service providers/employees, we are just cleaning up all of the previous activities of the company preparing for the next phase of our progression.
2) So there is no connection with this placement in regards to any pending acquisition ?
Answer; no, it is completely unrelated.
3) Whilst we are chatting, can you advise as to the progress of the new acquisition that has been disclosed through recent company Ann's ?
Answer; we have been in discussions with an entity of interest since December 2015 and they are ongoing. We are making headway and have had to overcome some obstacles along the way.....(at this point, I interrupted)
Question; Are these discussions ongoing with the
same entity since December or have you changed track looking into another opportunity ?
Answer;
Same entity, we have not shifted focus.
All of the directors here are heavily invested into this and we are growing as frustrated as the holders so you can believe us when we advise you that we are working around the clock to put this deal together.
Obviously my next question to PF was are we close to which the answer was progress is consistently being made and they believe we are closer than not.
My take......I got off the phone somewhat optimistic. There was no fluff. There was no hesitation other than PF being guarded as to how much he could disclose and I understand that. I was particularly taken by the vigor with which he declared; "we as owners are heavily invested in this and are working hard to make it happen" - he was genuine when he said this, didn't sound like a 2c car salesman.
I still maintain....for me, just a bottom draw punt, long way up and not too far left to go down to. I am happy with the risk and am prepared to see what comes of their discussions moving forward.
Over and out......
