Just reading the numbers to try to understand the reasoning behind the capital raise timing.
Cash 31 Dec 2024 - $4,605,577 AUD
First Infineon payment 31 Jan 2025 - $2,417,931 AUD ($1,500,000 USD)
next 5 payments, 01 Mar 2025 to 01 July 2025 - $161,195 * 5 = $805,975 AUD ($500,000 USD)
$4,605,577 - $2,417,931 - $805,975 = $1,381,671
$1,381,671 of working capital left over for 1H 2025 after payment of Infineon. This provides working capital for unexpected issues or payments that may arise.
So why the hell did we need to raise prior to Christmas at a discount of 20% with free attaching options.
I can't get my head around it, no one could possibly be this incompetent.
Could there be another explanation.
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