FactorX and Michelin Man,In adddition to the 12% interest, I...

FactorX and Michelin Man,

In adddition to the 12% interest, I also understand that they accepted fees for 'raising' the loans on behalf of the company, the same as if it had been an outside financier organising funding on behalf of the company.

That fee as I understand was a further 6%.

Not a bad return for their loans - at the expense of shareholders.

Had they done better due diligence on some of their prior deals they might not have lost as much as they did on behalf of shareholders and maybe we would not have needed the extra financing.

I could go on and on and some might say I already have. Unfortunately many of these issues are conveniently forgotten and where possible - I believe that they are swept under the carpet so as to avoid shareholder notice so that it is conveniently forgotten.

All of the history of issues related to directors/management I believe to be important - and all of the facts are not always easy to find and it is important to ensure that shareholders have as much disclosure to past facts and issues so that they can make a proper considered opinion in relation to their investments.

I am NOT an investment advisor so DYOR.

Good luck.

Regards..............