Ann: December 2023 Preclinical & Clinical Program Update, page-34

You're looking backwards.
Hunter is looking forwards.

Let's rephrase Hunter's calcs.
RAC wants to raise $6m, and preferably asap.
The interest on $6m at 6% p.a. for six months is $180k.
So the question is:
"if RAC gets the $6m early, can RAC's scientists and the independent AML investigator add more than $180k in IP value in 6 months?".
Everyone can judge that for themselves.

My own view, based on what the scientists have done so far, including the new formulation and the latest mouse bis+decitabine preclinical, is that they would add many $millions in IP value in 6 months. Bringing forward the eventual approval date by just one day on a drug with the sales forecast by the Triangle report would do that in itself.

The problem is that there is nothing to prevent any one shareholder from "freeloading". It's like funding public schools and public hospitals. Everyone agrees they are desirable, but nobody would hand over their taxes early voluntarily if the ATO didn't force them.

Ideally the World Health Organisation or another public body or Bill Gates would just give RAC the $6m and more today in the name of better public health, but unfortunately that isn't going to happen. So it's up to us.