La Tache, I have entered into many asx funding arrangements over many years.... NEVER has it ever been suggested that if 'Joe Random' does not honour his subscription that I would be liable for his welching... there is NO joint and several liability here, it is simply illegal to offer securities on that basis to individuals.... point of law... not quess work... your other points have various merit, point 4 is rubbish and you should acknowledeg that...imo
DYOR
US$33 mill plus interest AUD$43 mill, page-13
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