Ann: Appendix 4C - quarterly , page-8

anyone know what the positive $1.6m is in working capital? Is it recurring or are they burning $4m per quarter?

If its $4m per quarter and they have $5.5m left then I am sorry but this screams cap raising and a larger one than I expected - probably need $15 or $20m rather than the $10m I was expecting. Yes it could be via a C note but the terms described are unlikely without proven cash flow - those are the type of terms an A rated property trust or the like would get.