Ann: Chimeric receives $1.5 M advance on FY24 R&D tax incentive, page-42

I don't think this announcement has been fully appreciated.

The proposed placement was for up to 800,000,000 shares at not less than 75% of the VWAP of the 15 trading days prior to placement.
Looking back at the SP since the EGM meeting and knowing that 11/09/24 was the deadline, what leverage did management have to ask for more than 1.3c per share? The pipeline? What good is a pipeline when the company runs out of money? The ongoing trials? With our cash on hand we weren't (and still aren't in a position) to see them all the way to the finish line. The company has tried to raise money before and asked the market more than once, was forced to extent the deadline to subscribe and we'll, the response was mediocre at best... If anyone believes that the company could have asked for more than a 20-25 discount or even a price above the current SP when interested investors could simply buying market or potential buyers could wait for the company to run out of money, sorry, but that's not realistic.
Instead of pushing through a placement that would have seen a dilution for existing shareholders of close to 100% for a measly A$10.4 million, management opted to get a A$1.562 million advance on an R&D tax incentive (the equivalent of a just over a 10% dilution or about 120,000,000 shares under the approved resolution 5 placement) in addition to a minimum monthly dilution under the Lind facility to keep the lights on, frankly, I consider that to be in my best interest as a shareholder.

The expenses had to be reduced and in hindsight I'm OK to see that this started at the top with JC, as she simply was not in our price range and to be honest, she was the CEO and MD all the way down from 30c. To be clear, I'm not saying it was her fault, but her impressive CV could not stop the SP decline either.
RMQ so far seems to be a fine fit and she is based in AU. It was probably a tough decision, but a necessary one and again, given our financial situation, I also consider that to be in my best interest a shareholder.

I wish IMU, RAD etc. shareholders all the best with their investment, but I have decided to invest in CHM for a reason and I am comfortable with it. Perhaps, in hindsight I pulled the trigger a bit early, but nonetheless since then apart from the cash position, the fundamentals of the company have gotten even better as it turned from a one trick (scorpion) pony to a potential versatile solution against a leading cause of death worldwide.

Hopefully the company can get access to the funds needed until we get (initial/preliminary) results and these results to match or even exceed our preclinical or early clinical results for others in this industry to wake up and take notice.

Personally, I remain very bullish, despite the depressed SP and our current financial constraints.