this says it all from half yearly. Company confident of finalising deal. punters like. buying today. heavy buying.
In forming this view the directors have taken into consideration the following;
The Group has entered into a loan agreement with Monadelphous Group Limited to provide funding of
up to $23,000,000.
On 4 August 2016 the Group executed agreements for the XEPT transaction, as described in the
Review of Operations, and on 17 October 2016 shareholders approved resolutions to implement the
XEPT transaction. The result of this transaction once completed and settled, which is expected to
occur on or before 31 March 2017, is that the Group should be:
debt free;
have a minimum of $3,700,000 in free cash, and
have issued 12,484,848,550 new shares representing 82.4% of the expanded share capital.
As a Group listed on the Australian Securities Exchange it has access to the Australian equity capital
markets. Accordingly, the Group considers it maintains a reasonable expectation of being able to
raise funding from the market as and when required, although it cannot determine in advance the
terms upon which it may raise such funding.
