Fact:- They used nearly all of it to pay off debt and in the process added $460K @ 15% p.a. more debt from that placement!!
Has anyone guessed why they would be paying off $460K of debt on 28 June 2018 with more debt @ 15% p.a. and who were those debts paid to? i.e. They have increased company debt and created the opportunity for further massive share dilution (how else are they going to pay interest let alone that $4.6K on maturity? All smoke and mirrors. What say Dugsab?
LNY Price at posting:
0.3¢ Sentiment: None Disclosure: Held
