They have $3.5m from the Conv Note + a further $8.5m in reserve + at least $4m guaranteed from the Rights Issue (the underwritten portion).
So they'll be getting min $7.5m now plus have another $8.5m to draw on when required.
* How much do they need to complete the P3?
* What time frame is on the current Due Diligence from potential partners?
They have $3.5m from the Conv Note + a further $8.5m in reserve...
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