Ann: Adherium secures $3m funding from Viburnum, page-7

I must say their capacity to raise funds @ $0.03 is extraordinary.

February 20: has successfully reached its target of $5.4 million raised through its Rights Issueby allocating 17,517,309 shares in entitlement subscriptions and 162,206,104 shortfall shares to wholesale and exempt investors at $0.03 per share.

In May 20: BioScience Managers Translation Fund 1(BMTF1) to invest up to AU$5 million (at 3 cents per ADR share), together with an option, if exercised within18 months of issue,to raise a further AU$5million (at 6 cents per ADR share).

In October 20: A$3 million convertible note (The equivalent of 100,000,000 fully paid ordinary shares (3,000 $1,000 Secured Convertible Notes at a conversion price of $0.03 per ordinary share)

Also as near as I can tell they still have access to ~$2m from BioScience as they only took $3.1m in Q4.

So I wouldn't worry too much about funding. They seem to be very good at tapping sources. However, in trying to keep tabs of the SOI, it looks like we have gone from 179.7m FPO and 2.1m Options in Q2 (25/11/19) to something like 601m FPO at the end of Q4 plus 154m Options/CN (including this 100m CN)