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clock Created with Sketch. 04/01/18
15:30
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Originally posted by Varuka
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This is gold...how PSL got convinced to fund this I never know. Surely the corporate fees are not enough to put their clients' money in this troubled company. What was the story to their investors? Anyway, they raise $1.5M and within 30 days 1/3 of all than new capital is used to settle old debts (most likely directors fees and related party transactions). Shareholders get zilch in return. That was some serious and quick capital destruction! Tired old assets and no new direction...just another life style company .... quick and certain way to do your money imo. Let's see where this sits in 8 months when they need more money. ....
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Page 3 of Song Book, "Quietly whisper to Sophies we have major interest from Overseas Companies deal about to be signed just need a "little bit more"to carry us thru.
