The sale of the opportunity to grow sandalwood trees, managed by Quintis, is the sale of a product and not a capital raising. Similarly, the receipt of management fees for managing those plantations and harvesting fees are not a capital raising. The raising of capital to plant more trees on Quintis' book and to purchase MIS growers' plantations is an investment in the future profitability of the company.
Short term speculations with shorter's in mind for TFC, page-118
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