My reading of the update and the annual report:
- 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).
My reading of the update and the annual report: Directors will...
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