I'm not an expert in merchant banking. but relative to today's RBA rates, seems high cost of debt.
Cost of note: $500K
Annual interest: $1.2M
Total cost of debt: $2.9M on $10M (14.5%/annum)
Here's hoping the 4C shows some real market metric improvements (if not financial). As per @Redchedder's earlier post.
And share price rockets to avoid massive dilution. As per @Keyhole's earlier post.
Ann: Strategic investor provides DW8 access of up to $10m funding, page-21
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