As usual, shareholders are spun a story.
Mr Goodall will have his loan maturing in April paying 15% pa interest and with a conversion to shares "based on the 5 day VWAP of NSP’s trading days immediately prior to the loan date." Is that 100% of the VWAP or some smaller percentage, like 90% or 80%?
If it is anything less than 100%, then the loan is costing us way, way in excess of 15%.
Why can't these guys just be clean and be upfront with this and all of their announcements? If it is 100% of the VWAP, then say so. If it is only 90%, then tell us.
These omissions are really just lies.
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