Ann: Incannex Undertakes A$13 Million Institutional Placement, page-217

Hi all,I have a question for the veteran IHL posters here.On page 25 of the Capital Raising Presentation, it says that "The company will be fully funded until 2025 post completion of this offer" as we will have $45m cash.However, in the Proactive interview posted above, Joel says at approximately 2:40 that 2 sites for phase 2 studies cost approximately $5m. Joel says that the plan is to establish 20 to 30 sites across US and europe for phase 3. Using these numbers available to us, my calculations indicate that this will cost approximately $50m to $75m i.e. more than the $45m we will have in the bank.Doesn't this contradict the statement that we are fully funded to 2025, given that we are going to need more funds to cover the cost of establishing these sites plus the costs of running our other medicinal trials parralell ?Not sure if I have overlooked something, but this is a little concerning to me. It would be very much appreciated if someone could help explain the discrepancy here or provide further clarification.Thanks so much!