Despite Ferris Wheel's claim on another thread that VIV would be...

Despite Ferris Wheel's claim on another thread that VIV would be paid up front by Origin, these announcements suggest that we will be borrowing to cover the lagged payments we receive from providing lighting as a service for both direct and Origin clients.

I note the new loan from Evercharge is limited to 75% of receivables plus inventory. Thus we have to provide equity to cover the balance. The faster the take up by Origin clients of lighting as a service the more likely we will need to raise equity to meet the loan requirements.

I have no problem with that, but as $9.5 million in revenue produced an operating and investing cash deficit of $3 million last year we have a way to go before we can finance expansion of lighting for a service with lagged payments from internally generated cash flow. Particularly as we will need to pay 10% interest on borrowings.

We can expect more equity raisings before too long.