Was nothing in the statements made by the company that I read, so I assumed so given they altered the Accumulated Losses by $7m on the Pro-Forma Balance Sheet. So I am guessing about a $7m debt writeoff. Would be nice to see that in writing though, rather than simply saying there had been a "banking restructure". They state that ADM will replace the present Westpac Debt facilities.
The previous loan facility with Westpac (as stated in 31/12/17 books) was for A$17.2m (Term Facility) and $7m Working Facility. The Term Facility appears to be fully drawn and the Working facility at $4.8m. (Total $22m) From the $6.2m raised an amount of A$2.5m was being paid off the Westpac facility and we know A$12.5m was being provided by ADM Capital.... so $15m. Once again the difference is $7m !
Would love that confirmed by the company though !!!!
Was nothing in the statements made by the company that I read,...
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