No, not $600k of equity.
Roadpost provided a $600k interest free loan.
The alternative being that BCC could have simply raised $600k in equity at the time.
People could argue they avoided dilution at the time, but maybe we could have avoided subsequent raises if we had made some decent money off the first 115k units sold.
Great that it was an interest free loan, but no indication that Roadpost wanted to take it in equity instead, which says a lot.
Roadpost would still have provided insights on the design of ZOLEO, but this all could have been done through a long term exclusive distribution deal for North America, maybe with some added incentives for Years 1 - 3 to get the product launched strongly.
Ann: Beam Profit Update January 2023, page-52
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