Ann: Second Quarter Activities and Cashflow Repor, page-18

re: Ann: Second Quarter Activities and Cashfl... Gardie where did you pop out from ??


"If I recall CHM raised funds at 1 cent so given what the market has done I am sure those people would feel OK as they are not that far out of breakeven. Do you want to compare that to other capital raisings over the last 6 months let alone the ones done at the peak of the market like CHM."

Please show me the announcement where CHM raised any funds at 1c.
If any funds were raised i believe it was at over 3c and the rights issues was heavily undersubscribed which as you can see is drowning.

"I am guessing that the loans are from the key stakeholders and I am happy to bet that they will find the cash to keep the company going while the cases play out."

Again material information unknown to the market and if true would be very interesting news to ASIC.

"I think you may find the amount has already been lodged in a trust account as they appear to have got the files and moved on."

Why wasnt this mentioned in the quarterly report.
ASIC again will want to know if this true.

If you get to court and im conceding that is possible.Any victory will be meaningless to shareholders as the funder is likely to score the majority of any gain.
Which i suspect is why the terms in which the litigation funder signed on for have never been disclosed so as not to scare existing shareholders.

All existing shareholders are fried,there is nothing in there for those conned into getting aboard.

Litigation funder only posible victor out of this,look at Bannerman resources where a similar scenarion unfolded and a settlement was made before going to court.