The NRF expects a company to be making a profit before they are willing to provide long term loans or equity. sounds reasonable to me, however for ADO this is problematic without signed contracts and cash flow.
The CR is providing much needed Working Capital, does it annoy me? Yes, but it is necessary. Even if a contract is signed today for Anteo X there will be considerable costs before we see revenue receipts.
Regarding the allocation for partnering I wonder if this is for tooling up (Capital investment) within say EV1 or battery manufacturers factories to produce Anteo X and Silicon anodes.
I like to think this had to be done quickly for reasons additional to paying wages. it could also be other funding sources such as QLD $1.4m require equal contribution from us.
ADO Price at posting:
2.6¢ Sentiment: Hold Disclosure: Held
