The announcement states the company is well capitalised now and that the R&D tax refund will be received before the end of this year(Dec 2023). It does make you wonder why they bothered if the capital raising was sufficient to keep the company operational until the end of the year. That is only three months away. Are they saying the company doesn't expect any revenue for the next three months, very concerning. Has the money from the capital raising already been spent? In addition the loan has an interest rate of 1.33% per month compounding. Essentially they are throwing away over 4% of the R&D tax refund.
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