The following is speculative thought..
Just extrapolating on my last point and my surmising on why Andreas has secured funding in this manner..
The Fed Gov via the Appropriations Act in March 24 has adopted language for non-invasive lung tech (incl. 'guess who?') and gave the VA 90 days to deliver an implementation schedule to spend the budget for the purpose mentioned. ie. 'stop stalling, get a wriggle on and spend the money..!'
4DMed pitches their capability to deliver - how many patients, how often, starting when, barriers, capabilities etc. This needs to be robust and funded. Funding is a risk as the VA is plenty of under pressure to get service through to their patients (thanks Le Roy..).
VA reimburse after the scan but a scalable rollout will cost $$ upfront to 4DMed.
Andreas secures optional funding at the discretion of 4DMed over 3 years. Optional and if taken, it's quick and at a discount to the price of the day. This facility provides the risk-free missing link to a large-scale rollout. The VA is comfortable that 4DMed's cash position is now less risky.
Should VA sign a commensurate deal to 4DMed then the ASX announcement is made. Very soon after, the Philips commercial agreement is signed.
The market reacts (hopefully very..) positively and existing cash is used to rollout and start scanning.
Thus far, no drawdown on the new debt. But the market reacts first, presumably positively.
In this imaginary scenario, Andreas has been able to show that they have $70M up their sleeve without a fixed borrowing and without an immediate dilution. Perhaps the facility will be used in the future to draw maybe $10M (for eg.) and against a much higher share price with a lesser SP dilution. I guess it depends on how quick they can rollout to big customer numbers at such high margins.
If this plays out as above, this is a smart move for shareholders, the balance sheet and for cashflow.
GLTAH DYOR
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