But 23m of long term Debt that has no terms to be paid back. OBJ needs to fund to purchase, so the shareholders are tapped on the shoulder to raise 23m and further diluted. So he and the others keep the loan. OBJ purchase the company from him so handing over another 23m.
Only two thinks I see in this 1 this was to get him over the line 2 this is a back door capital raise where he is given the value and pays it back and 23m sits in the obj bank account.
OBJ Price at posting:
1.5¢ Sentiment: Buy Disclosure: Held
(20min delay)