Ann: Funding and Capital Update, page-2

As I said a few weeks back C2V were the only party who were going to step up here. The amounts involved are substantial and also, for me, instill the thought that C2V are clearly confident CDX has something of value that they wish to continue to invest in because they believe there is still a pot of gold at the end of the rainbow. I like the pro rata entitlement to shareholders. I like that we are not giving 5% plus options to the leaches in the broking industry. Interest rates not out of whack compared to other deals being done.

This reads to me as a funding package that is expected to be the last, because it is designed to take them through to revenues and cashflow positive generation with upcoming product launches.

No mention of ongoing discussions/legal action on getting funds from terminated contract that could also provide some significant funding.

For a Company that was not in a good place financially and a failed NASDAQ listing, this was the only choice IMO, but at the end of the day the guys who are driving the project and believe in it are backing it to the hilt, which has to be good.

Ironically, I think growth stocks are going to have a good run, but only those that are cashed up and close to cashflow positive. Hopefully, this gets CDX there.