I can't agree with everything you said there sorry.
Merchant Bank recently participated in a capital raising to the tune of $9.5m combined with a major shareholder...The total CR was for $20m so it's a significant investment...It was funding for phase 3 trials.
So it's clear they are willing to support the funding of trials.
Yes we are cashed up but I trust in Steven...He is extremely qualified in finance and capital...Also structuring partnerships...If Steven thinks now is a good time for Merchant Funds to take a position I trust in his judgement.
Steven has his eyes set on taking products to market ourselves, he is not willing to be reliant on takeover offers...This means being very strategic about how & when you raise funds...If Merchant want in now, not sure I'd be turning away the offer.
SOI is very tight...A placement wouldn't blow anything out...But the vote of confidence from a major fund and swimming in cash may be a catalyst for retail investment to dive in.
Cheers.
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