pardon my lack of business acumen but can anyone provide any insight into this $1M financing arrangement detailed in the quarterly report? Are these terms reasonable? 16% per annum plus an additional 3 months on repayment ? And why are we borrowing from a Singapore based shareholder? Someones mate, relative, investment vehicle??
"Secured facility provided by Lax Consulting Pte Ltd as announced to the ASX on 31 March 2017. Interest accrues at a rate of 16% per annum, payable on demand. An additional 3 months interest will be charged upon repayment."
T3D Price at posting:
0.8¢ Sentiment: None Disclosure: Held
