when is the next capital raising, page-4

Guys you might want to review the notes relating to the General Meeting held on October 25 to get a further insight into the likely cash position.

Resolution 5 of that meeting was about raising $5m in cash via a CR to SI’s over a potential 3 month period from the date of that meeting.

$3m of the $5m they are seeking to raise is to be used over 18 months to develop the AML nanoparticle tumor treating technology. It’s one of the conditions of the AML sale that money has to be spent on product development.

As far as I can tell the other $2m raised is for working capital purposes. So I believe the company should have plenty of money until they can get some products to market.

(Resolution 6 of that meeting was the name change from Helicon Group (HCG) to Consegna, so if you want to verify anything I’ve said maybe check under HCG).

I haven’t heard of a cornerstone investor to date, but a lot of shares have been issued over the last 3 months. I think some of the recent highs were little pumps & dumps for some of the SI’s so they got out with tidy profits.

I’m waiting for the recent dilution to wash through before considering my next move, but for now happy to hold and looking forward to some sales next year.