A total of $7.55m of which $500k was taken before June 30th.
Lind loan is convertible into UXA shares at 91.5% of the stock price in the previous 3 trading days ie 3c average = 2.745c a share.
It is not known if Lind have in mind selling UXA stock or holding on to it. The $7.55m loan is more than three times the present market cap without interest included. UXA will receive $100k tranches monthly and up to $300k with the right to convert into shares by Lind.
The LIND loan period is for two years which gives UXA a breathing space. UXA senior debt amounts to $1.259 million on 30th June - (cash in bank was $1.04m) $570k ($430k converted into 110m shares) of La Jolla loan was not converted at 30th June but some has since.
Trading in shares is becoming increasingly difficult and unless a director or other interested party wades in then there is no way forward without a commercial find.
UXA Price at posting:
0.3¢ Sentiment: ST Buy Disclosure: Held
