why to raise 15 m?, page-4

Shipmates:
I was surprised to see that Zrl largest share holder LinQ capital would sub - underwrite $ 6 M and so i just went through the cr prospectus to have some clarity. Here are my findings / thoughts:
-- zrl borrowed approx 6m from LinQ over the years. If zrl goes down now LinQ will loose $ 6 M.
-- As part of minimum raise of $10 m, LinQ will get back their $ 6m. So zrl is effectively paying out the debt with 6 billion shares at. 0.1 c plus 2 billion oppies.
-- there is a condition that existing share holders has to raise a minimum of $ 1.5 million (out side of LinQ underwriting of 6 M) before Pattos fill the gap of $3.5 m.
-- as always, Pattos is the winner here, underwriting $2.5 m and earning around $1 m fees plus the underwritter oppies. Note that prospectus showing an additional 4 billion oppies for underwriter.
-- given what LinQ may loose if zrl goes down, IMHO, LinQ will fill any additional gap in participation from other shareholders and ensure that zrl stays afloat.
-- so zrl is not going down this time, though many of us has lost over 90% capital on this. Sorry or any typos.