A man goes to a bank and asks to borrow $2 before christmas. The bank says well we would like to lend you two bucks before christmas, but how can you pay us back?
The man says that isn't a problem, he has a business that can only supply 40% of his customers' orders, but even with current orders he will make $500 bucks next year, so repaying the bank's $2 isn't going to be a problem.
The bank reminds the man they actually inherited most of his company a few months back and thought it best to sell their inheritance for what they could get, as they, like other share holders were never shown the sales orders. Admittedly, if they had proof that these orders were legitimate, lending two bucks for christmas wouldn't be a problem.
The bank suggests the man ask the shareholders to dig further into their pockets, as they may just believe his story as these long term holders will want to protect their current investments.
And hence:
"Based on the ordinary shares and contributing shares currently on issue, this offer would raise $2,067,437 in applications if fully subscribed and a further $2,067,437 on 30 November, 2009 followed by a final payment of $2,067,437 on 30 November, 2010. "
And why would Solagran require another 2 million in November 2009 and another in 2 million in 2010, if they have so many orders for Ropren at $1000 plus a course?
It's about time management were made accountable to stakeholders!
PS Thanks to everyone who keeps buying, your faith in SLA is greater than mine.
SLA Price at posting:
23.1¢ Sentiment: Hold Disclosure: Held
