Uses of Funds $mKentucky facility (CG1 50% share)- Equipment...

Uses of Funds $m
Kentucky facility (CG1 50% share)
- Equipment 8.5
- Electrical and mechanical 3.0
- Site preparation and installation 2.0
- Contingency 1.0
Cash to balance sheet 0.5
Costs associated with offer 0.5
Total Uses of Funds 15.5

this is a budget ? this is what the we are supposed to base an investment decision on ?
million dollar whole figures ? electrical and mechanical 3 m , not 2.6 m , not 3.3 m but 3 m . site prep 2 m not 1.75 or 2.25
how did they arrive at those figures ?
that budget needs to be exact , if not this company will be under serious financial stress
have they secured the equipment , is there provision for inflation running at 12 to 15 percent on new equipment ?
is there provision for maintenance costs on the aging existing machinery ?
total use of funds to total source of funds leaves 0.5m cash , fully using the additional loan facility
an extra 5 m has been raised on top of the 2m that was underwritten , plus whatever existing shareholders will contribute
assuming another 6 m in total
1m was in cash June 30
the lag from production to getting paid would be 30 to 90 days ,and expense associated with the new production still need to be met before getting paid
last quarter the loss was 3m under the existing production
they need to keep a free cash buffer of 3m at all times to satisfy the terms of the loan
the whole thing starts to look very skinny
that says to me , another capital raise before June next year , the earliest the extra production comes on line
lets see if that is correct or wrong

Production expected from Kentucky facility before 30 June 2023

nothing happens after early December in the USA , and nothing before February next year
unless they are well underway now that deadline looks sketchy at best
has anyone seen evidence of the commencement of work they talk about ?