Ann: Half Year Accounts December 2018, page-60

Yes i agree with the time of lapse, (i sell finance with my products)i have a 90 day window which to activate the product and collect monies....

I also have extension periods that can be acted upon if delays occur which kick in, the only time i have to redo all the financials after the time lapse is if anything has happened to the company i am dealing with.....

Example, when finance is accepted to install my product and we over run the installation by over 90 days(many reasons why) from start of acceptance, if the company has gone into receivership or has developed bad credit in the mean time then no way the original lenders would re-accept, i would then have go to a third party lender to push this through, to get this deal through then becomes non profitable because the lender now wants far to much to push them through because of the high risk involved....

I would have three lenders ready to go at fair odds before ever considering last option finance, because the only ever winner is the lender....

VEC now is around 1/1.1c nearly 50% from pre ann, the damage is already done, if new finance was to be agreed now twice as much dilution for the same funding would have to occur???

Time scale of the money walking away is just an excuse, management are imho to blame for this diabolical situation they have put their sh's in and as always it will be mum and dads that will be paying for ALL the dilution that now is so very evident