It could be conditions/terms of a contract or grant couldn’t it @LawyerTrader ? Ensuring liquidity.
Possibilities ( speculative).
- grant applications often require proof of 2 years profitable operations or liquidity to cover a couple of years. Grants are to support successful businesses grow, not prop up duds.
- a commercial contract. Sounds like NanoDX are tying up all commercial contracts ( such as IBM licence ) before market launch and scale up. You wouldn’t want to have a key supplier fail and halt all supply ( SE1 demise could be a disaster for NanoDX … how long to get a replacement up & running ).
- similar request from Nova Biomedical prior to launch.
- terms of a JV , with whom I have no clue ! Maybe BLG ( a spin off from DoD project that BLG are working on ).
who knows … let me check the investor presentation!!!
IMO
Ann: Sensera completes A$2.5m private placement, page-80
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