Ann: Execution of Convertible Loan Facility, page-19

I think we are both talking about the same thing but maybe with different emphasis. To me it still looks like this convertible note is inadequate which indicates that they ARE having difficulty raising debt financing, so that just leaves further equity raising.
I don't think they will be cash flow positive for some time yet, at least if LaaS takes off.
Furthermore, the convertible note is looking a lot like plain debt after yesterday's share price drop.... so I'm seeing a lot more equity raising and therefore a lot more downside in the share price.