Ann: Extension of Offer Period, page-4

The Company is extending the Public Offer to provide sufficient time for all funds to be transferred into the Offer Account and to enable reconciliation of all subscriptions. The Company is also engaged in negotiating a cornerstone investment with several institutions

I'm also confused by this.. They are waiting for funds to clear and recon all subscriptions but they are still in negotiations with several insto's...I wonder how much funds they have raised.. I am thinking around $1M if they still need a cornerstone investor.

I don't get why an insto would touch this.. they need to remove the convertible notes offer.
They also need to adjust the conditions as above..