We somehow have to make sense of the first item in the table on page 14 and 15 of the prospectus.
Which seems OK with the 4m raised.
Not sure why there is a difference of $296,483?
Description Offer costs and general working capital 1, 2
Full Subscription ($) 1,296,483 12 % (not applicable?)
Underwritten Amount ($) 1,000,000 25 %
Notes:
1 This includes working capital and administrative costs such as salaries, payments to the previous CEO and Managing Director Mr Bradley Boyle, ASX and other fees and corporate overheads.
2 Please refer to section 4.14 of this Prospectus for further details relating to the estimated expenses of the Offer.
The above table is a statement of current intentions as of the date of this Prospectus. It is
anticipated that these funds will be applied over the next 12 months.
The above proposed use of funds is subject to ongoing review and evaluation by the
Company. As with any budget, the actual use of funds raised under the Offer may
change depending on the outcome of the programs as they proceed. The Board
reserves the rights to alter the way in which funds are applied on this basis.
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