OKYO Loan28 Dec 2022 11:41
Taken from the interim results,
“ Postbalancesheetevents
In August 2022, the Group issued a short-term credit facility to Okyo Pharma, a related party, for $2m in order to support short term liquidity. The loan is available for a period of 6 months upon first draw-down and carries an interest rate of 16% per annum, with additional default interest of 4% if the loan is not repaid after the 6-month period. To date, $1m has been drawn down against the loan.”
Nice to see we are lending Okyo pharma and others cash…
Also, I note the following RE buyback
“ Treasury Shares
The Company acquired 912,825 of its own shares through purchases on the NASDAQ stock exchange during the period ended 30th June 2022. The total amount paid to acquire the shares, was $808k. The shares are held as “treasury shares”. The Company has the right to reissue these shares at a later date. All shares issued by the Company were fully paid.”
So we should have plenty of cash to keep it above $1 for 10 days.