According to the half yearly there are Magna = us$3.5M Riverfort = us$2.2M Temorex = us$250K Total notes = US$5.725M” All on the same terms.
Quote - “The US$5 Million payment was financed by the issue of convertible notes totalling US$5.7 million as disclosed in note 1 of the half year Financial Report.”
Quote 07-03-2019 - A bit contradictory? ”This alternative funding was secured through a US$4.75m facility (“MEF/Riverfort Facility”) with MEF I, L.P and Riverfort Global Opportunities PCC Ltd (together the “Investors”) and has now been received.
An additional US$0.25m was also obtained by the Company under the same terms via an unrelated shareholder of the Company, Temorex Pty Ltd.”
The above total = us$5M As per 6 monthly there is US$5.7m in notes.
VEC Price at posting:
1.0¢ Sentiment: None Disclosure: Not Held
