IMO:
They are well over $5M in debt, they needed another $5.15M to get closer to production (I think it’s very conservative).
Have a look at the pro forma balance sheet which includes the $4M in CN’s and also the $6.
7M for the Loyalty Options” being excised which they didn’t get.
So they need somewhere between $10M to $15M from somewhere?
This is the balance sheet within the Supplementary Prospectus:
Supplementary Prospectus:
https://hotcopper.com.au/threads/ann-supplementary-prospectus.6891355/
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