In my view this arrangement shows that Tim is well progressed in...

In my view this arrangement shows that Tim is well progressed in his deal making for AD-214 with some chance of an announcement as soon as a month. The 1 month option for a little more Meurs money supports this possibility. If the AD-214 situation remains highly fluid then typical management behaviour would more likely be to get as much money in as early as possible.

Initially over 13.5m shares will be issued under the facility (including the fee component) with another 10.4m share to be issued (if within the first month) at 1AD's option for a total consideration of $1.2m. This is the second pointer as to Tim's expectation about the possibility of a deal. It would be in 1AD's favour to issue the 10.4m shares for 0.06 within the first month if a deal is well into the future. Otherwise 1AD would be better to wait until after a deal has been done so that either the monies can be repaid (with equity returns) and not further dilute shareholders into the future, or to issue a smaller number of shares at a higher price to limit dilution.

It's a complicated financing designed for an AD-214 outcome. There's something for both sides. Good job Tim.

Nothing is certain but the vibes are not bad.