Ann: Appendix 3B-KBL.AX, page-4

First 4 Last

Share
Profile

Follow
jonathan_2412

468 Posts.

22/08/16

18:13

Post #: 18591210
Share

Originally posted by billc3012 ↑

The first issue was to convert $10,000 convertible notes. at VWAP rounded down as per agreement with the noteholder. It seems there are 2 remaining notes under this agreement.

There is one $10,000 note outstanding under a previous agreement where VWAP is not rounded down.

The second issue was to settle a debt.

This is my understanding from reading these and other announcements.

There are still debts to settle; how much I dont know and the Annual Report due shortly should give us more information.

Any shareholders with spare funds to invest in KBL should speak to Management and see what they are offering because until they raise the funds they need they are forced to issue convertible notes at a discount and the note takers are abusing the situation.

When management needs cash quickly they have 3 choices:

1. Raise funds from shareholders with ready cash.
2. Raise funds by placements to third parties who are sucking blood.
3. Cease trading.

Option 3, noone wants.
Option 2 results in dilution of existing holders, but ensures KBL survives.
Option 1 is preferred.

Expand

Thanks bill. Informative and concise.

However, I've followed through all posts and searched thoroughly. Is there any reason why option 1 is not done here and going through with option 2 instead? I understand the need for them to raise funds, but I do not understand now that you've put it in such form, why they went with a more sinister approach to existing SH

KBL Price at posting: 0.3¢ Sentiment: Hold Disclosure: Held
Upvote

0 Great analysis

Reply

Top Stories

RSG

HotCopper reacts as Resolute Mining told to pay US$160M if it wants its CEO back

HAW

Yangibana 33% complete says Hastings, as it provides clarification on funding

Neurizon sets out to capture the market in neurodegenerative disease therapies

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

DLM

Biome reaches intellectual property milestone in strain development program

There are more pages in this discussion • 33 more messages in this thread...

First 4 Last

Add KBL (ASX) to my watchlist

Ann: Appendix 3B-KBL.AX, page-4

Top Stories

HotCopper reacts as Resolute Mining told to pay US$160M if it wants its CEO back

Yangibana 33% complete says Hastings, as it provides clarification on funding

Neurizon sets out to capture the market in neurodegenerative disease therapies

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

Biome reaches intellectual property milestone in strain development program