And this is how over the next 2 qrts the wifi roll out will be funded.
GoConnect confirms that it meets the requirements of listing rules 12.1, 12.2 and 12.5.
Subsequent to 30 June 2012, GoConnect has added to working capital with increase in
equity capital of $250,000 from the exercising of share options, and a further increase of
equity capital of $250,000 from exercise of additional share options today. GoConnect is
also able to draw on unused credit facility of $1,137,331 to satisfy working capital
requirements until revenue derived from our various WiFi Marketing Platforms and IPTV
Platforms generate positive cash flows to the Company.
The Company has sufficient capital and access to additional financial resources to
support its business operations for more than two quarters.
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