Maybe they overspent on the 'site visit' over the weekend entertaining the brokers? Private jets, helicopter rides, limousine transfer, red carpet and lobster horderves don't come cheap.
AJ did mention previously they are fully funded till completion of DFS. But after that they should only have $1M left for Oct-Dec. This $2M loan is pre-emptive and means there is no need to tap the market until next year, maybe March/April. The plan is by then everything will be sorted.
Some investors patience is running on fumes, which is understandable. We have waited a long time and if this DFS fails to deliver… god help us all.
Ann: VXR Secures Loan From NST to Complete DFS, page-12
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