In relation to the equity draw down found this in Business Wire.
"May 02, 2011 05:48 AM Eastern Daylight Time
Motopia Secures $15 Million Funding Facility with Dutchess Capital
MELBOURNE, Australia--(BUSINESS WIRE)--The Board of Motopia Limited (ASX:MOT) is pleased to announce that it has signed an equity facility agreement with US based Dutchess Capital to provide long-term funding for working capital of up to $A15 million. The equity facility provides a solid base of funding to Motopia over the next three years.
The funding allows Motopia to call on funds when needed, in tranches of up to $300,000 per drawdown (or up to $500,000 if agreed by the parties). At no time will Dutchess Capital hold more than 19.99% of Motopia."
Therefore it is available until May 2014.
MOT Price at posting:
0.1¢ Sentiment: None Disclosure: Not Held
