its hard to determine the amount of dilution yet dues to the way this has been set up.
$500k now at 10c per share, and 15 million non listed options at 25.5c. Further funds to be drawn at 95% of the previous 5 day Vwap. So if the share price goes higher, the dilution is less. Share price drops dilution is greater.
But considering the financial status of the company. there is no pressing need to draw more money yet as they have $20 million in the bank.
We did, however, have a overhang of nearly $10 million from the last CR. This money was needed to keep the pipeline progressing into trial, pay licensing fee gor NK drug and working capital. So all of that is now covered, with another $20 million available.
So we have a fee years of money in the bank, with extra that can be used to progress the potential fast track approval trial into GBM.
We also no gave a cornerstone investor onboard. Meaning we are less reliant on retail investors for future funds.
CHM is in a very strong financial position now. This was a very clever and innovative money raise idea. particularly with such a low share price.
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