I’ll do some more digging tomorrow, there are some lists of the loans they currently have, but without recent financials it would still be speculation. I do believe they are at the 700M shares issued mark. I’m not sure if this includes options that can be exercised later (but according to the pasaca agreement those options will have to also be matched for pasaca). I would suspect/hope that the $10.5M would be used to close out some of those debts and hopefully have some left over for working capital. This would limit the amount of shares that need to be given out and matched for pasaca. From there... we need to see some revenue. If not, per the agreement any further dilution would result in 2x as many shares.... 1 for whoever we are paying and 1 for pasaca.
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