Opening on Monday, page-17

What $108m?
Or do you always like to ignore operating costs and other current liabilities?
What of the US$1.8m to be paid within 60 days to note holders, or the October 2020 interest payment that combines with a US$7m+ amendment fee.
As a result of the 5% fee and delayed interest payment, the current debt to note holders is US$161m at a rate of 15%pa. That is up from the previous US$143m.
This financing deal is a solution to allow the company to continue to operate, not fund any of Stage 2.
I think at this point it is actually best to take the sage advise of o.c.16 and suggest you call AJM investor relations and get them to explain it to you.
My intention is not to contribute to FUD, but to clarify your comments that AJM now has $40m and can afford Stage 2.
I personally believe you are not intending to ramp, but could benefit from a call to the company because you will never take my word for it.
This refinancing and equity package is a great win for the company when you consider the alternative.
Good luck to you and have a nice weekend.