We have to draw a minimum of $10m. We can draw up to $29m but we may only draw part of it. Plus LDA get the 75 mill options at what should be a bargain basement price.
LDA get a a great deal and we get financial certainty just before take off which is a great thing to have.
There is no way LDA would be putting up that sort of money without significant due diligence, and i mean significant. Ie, satisfied AKIDA actually works and will sell. Lets face it, if AKIDA duds out they lose all just like the rest of us.
So i see the deal as validation of AKIDA as a very viable product.
Ann: Financing Facility, page-112
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