219 million more on issue and saleable on 10th. at 50% discount to vwap.
They raised first part of a 2 part offer $440k at the new lower issue rate 0.02 after issue was amended and was done to "institutions" and directors . They probably mean Sophs as I don't actually know of instos on the register. Will see how many the staff and related parties took up and if they indeed took a placement fee discount as well.
I had great concern that there was going to be a further issue price reduction - down top base level or withdrawal by those that committed to the issue . Only way to go lower than $0.001 would be to consolidate.
Gotta wonder if this is just a way to suck some cash in to keep paying wages or if they really have a business and are going to make ago of it and just leveraging in themselves before releasing some good news they pretty much know is coming . If they don't have some mining orders locked in to support risk it smells. Astounds me with so little cash they would go down the path of creating a 2nd manufacturing option so there is obviously issues on cost / quality at existing arrangements
ABV Price at posting:
0.2¢ Sentiment: None Disclosure: Not Held
