I thought I read $1.6m debt to Lenark in the quaterly Lenark is...

I thought I read $1.6m debt to Lenark in the quaterly

Lenark is a related party of JC

I dont think administration is a likely outcome for a number of reasons, I am just saying it is interesting that a company that has raised soo much money over the past 3 years keeps that debt on the books...

I do believe that given the last quarterly indicated projected outflows greater than cash at bank i.e. need of capital raise, the current slide in share price (and random large sell bid floating in and out) may serve the interests of those being asked to tip in some money. There are certain rules on what discount to market you can complete a placement, the lower the VWAP, the lower the minimum raise price. Maybe they cant get money done at 10c and need the share price lower to get a raise away within the rules at a price the market will meet. It would be interesting to know who keeps lobbing that large sell order on and which camp they sit in