They would be getting low on cash again now by my calculations.
Of the 3.41m Euro recently raised, 0.41m was used as an establishment fee so the net raised was 3m Euro
Then of that, 1.857m was used to retire the other loan.
That leaves 1.143m Euros of the capital raising available for the business.
The last 4C estimated just over 1m Euros cash outflows in the quarter ending last month.
Not a great time to be doing a capital raise unfortunately.
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