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The issue for me with Contact Nominees is not the loan itself...

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Big Kahuna 101

3,656 Posts.

265

19/03/19

13:12

Post #: 37809851
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Originally posted by Mutley8: ↑

I’m not pleased anymore than anyone else about the Contact Nominees thing, personally I wouldn’t have dealt with an ex-Director, too messy. Maybe they were running on fumes and later got held them to ransom chasing his $120k? Cash was low early this year. So a bitter ex-director milking it for all its worth is what I see. Who knows, I doubt anyone would voluntarily cough up more to close the agreement than the original deal required.

Perhaps 1620 participated in the CR? Take your choice, depends on your mind set. The fact they hold their original stake and now have an equally large amount bodes well for sentiment down the track.

Cash flow management certainly could have been done better, no argument from me there.

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The issue for me with Contact Nominees is not the loan itself but how they elected to repay it.

$420k repaid with $325k cash and $306k shares... we know they had just raised 2.6 mil so surely an extra $95k is better then issuing 3x as many shares.

Lets hope financing comes soon.

VEC Price at posting: 1.1¢ Sentiment: Hold Disclosure: Held
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