On 25 July 2018 a DOCA proposal was received from White Oak Ridge Capital LLC. Under the terms of the DOCA proposal the Company will undertake a capital restructure, through the consolidation of existing shares of 1 to 100 and the issuing of 50M new shares at a price of no less than $0.01 to raise $500,000 in new capital. For every 3 shares issued 1 free option will also be issued at an exercise price of $0.03. After the capital raising an additional 40M shares and 50M options with an exercise price of $0.03 will be granted to the Secured Creditor in lieu of the amounts owed by the Company, which will be converted to equity. The capital raising is
targeted to take place prior to 30 September 2018. I
You just never know, there might be some life in the old dog yet, or light..... sorry candles at the end of the tunnel,!
Good luck everyone and lets hope we can at least salvage something here.
YNWA
