To me what stood out was the cost to also upgrade existing PCEs on the same timeframe and an additional warehouse. This cost is substantial and probably wasn't feasible in the same timeframe without additional cash whilst also trying to build the new PCEs. Im not a fan of the raise and think it should have been conducted at a premium, but I do see some validity in it.
Ann: ECS to execute expansion plans following $4m Placement., page-12
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