Substantially Undervalued, O&G Situation in play, page-151

Hi bigfella64,

As at 30/06/15 AXT had $443,697 in trade and other payables. See the 2015 financials.

The majority of this ($419,465) related to accounting, secretarial and director fees. Again, see the 2015 financials.

AXT could have raised $800k when the SP was at 1-1.5c to pay these amounts payable. Would this have been a better outcome for shareholders? 60-80m shares issued rather than 10.75m shares?

These expenses look to have been accrued until such time that the AXT SP was higher, and the CR far less dilutive. We are talking about about 6% dilution, it's immaterial in the bigger picture.

There will now be $300-$400k left in the bank that will ensure the company can continue to operate while PANR drills it's targets over the next 12-24 months. Yahtzee.

Cheers!