This week something historic happened in Singapore's crowdfunding scene -  a company related to an SGX-listed company sought to raise debt via crowdfunding. It was none other but Epicentre- once famous for selling Apple products. You can read the article here. Epicentre Crowdfunding   It is quite unprecedented for Epicentre to raise funds this way. Prior to this, the company relied on unsecured bank loans which yielded 3+% - 4+%. However, now it is relying on callable and equal monthly installment loans for working capital and purchase of inventory. Looking through Epicentre full year and recent 1H results, my guess estimates is that the company is likely to generate 500k annually in operating cash flow before working capital changes. With a balance sheet of current cash (4.5mil), trade receivable (6.5 mil) against trade receivables and debts of about 20 mil, my sensing is that Epicentre is likely to roll over debts ......