Ann: Incannex Presentation - Dr Sud Agarwal - CMO, page-54

You're right there, the money has to come from somewhere.

So I was attempting to do the math, and correct me if Im wrong.. In exchange for Cannvalate paying for the phase 1 clinical trials, IHL is issuing options in stages, which if all are exercised, Cannvalate will own an extra 16% of IHL (after dilution, and not sure how much they current hold), and it would have cost Cannvalate $10,100,000 to do so. Am on the right track?

Can anyone point me to an announcement that talks about how phase 2 trials will be funded?