One edit, they needed about $3.4m to stay in (90% of $3.8, which I think is the correct fully funded Tranch 2 target). So it looks like they are about $1.7m short of what they needed to go ahead (assuming they find financing for the launch). Now they need to find around another $2m to keep the lights on while they pursue launch money.
Ok, I think that's correct. A double check would be appreciated.
Ann: Issue of PO Securities & Tranche 1 Placement Ops - Appx 3B, page-48
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