Directors will participate in the Placement and Entitlement Offer with $1.5m and lend $6m with 10% interest.
The biggest shareholder will participate in the Placement, so that’s good.
We don’t know the overall CR price.
The Placement amount is $5m and Entitlement Offer is $3m.
So total available funds will be $14m (6m Loan + 5m Placement + 3m Entitlement).
Adding up to $6m from Clinichain could get us up to $20m.
A court prejudgement for the Clinichain payment has been received and settlement is in negotiation, which is great.
They lost $19m for the year and have $15m liabilities, but they have $11m current assets, which means a $4m in the red (but I'm bad at accounting, so big grain of salt).
