The raise will be predominantly for working capital i would have thought.
It doesn't really make sense to 'raise in anticipation of a new contract or partnership'. A new contract, in and of itself, does not require fresh capital. If anything I would argue that it would negate the need for fresh capital if there are revenue inflows.
They had 2 quarters worth of funding as per the last quarterly. I think it is prudent to get the raise out of the way early to avoid the issues we saw at the begininng of the year.
Ann: Trading Halt, page-39
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