Whats going on????, page-54

This long term funding issue has been a debacle. It'll probably end well but the whole process has taken too long from the initial announcement.

IMO, My take on the situation is that the board found significant (unexpected?) support from these alternate investors (most likely T20) for the longer term funding model. While the terms were agreed with the institutional investor a while back they only started negotiating with these alternate investors a couple of weeks ago.

From 16 May: 'Collaborate has also been approached by additional investors and the Board is considering a number of these proposals as alternatives for longer term funding.'

Hopefully they have negotiated better terms with these alternate investors and can announce something soon.

Btw, I've changed my sentiment to buy.