Ann: Facility for US$3M/$5M Line of Credit Finalized with Alterna, page-6

Yes it was either financing or a loan. They have about 3 quarters of cash left as per their last 4c so they needed to do something.
It probably isn't a bad deal considering we already have financing / lending from Colinton of aud 5.15m which is fully drawn.
This new facility plus the fully drawn Colinton money means our debt levels are growing ... but the Colinton funding was via a convertible note and hopefully they will convert to shares when the note is due ... but it will mean another 80m or shares on issue.
The sooner the company can turn cash flow positive the better as we need to stop the cash outflow. We probably need another 1.5m a quarter to do this which is another 50% ...say quarterly receipts of 4.3m plus.
This new deal sounds a little fiddly and potentially a little restrictive but they have it and really it's structured around the better sales are going the more money that gets released.