Mixed bag really, it stops dilution but interest rate is 12% for...

Mixed bag really, it stops dilution but interest rate is 12% for the foreseeable future as it requires 1.2M Euros p/m for 3 consecutive months which will then becomes 10% until they can do the same but 2M Euros p/m to get it down to 8.5%.

So far the Qtrly had 59k for 3 months so a fair way to go and 15k all last FY so be a massive turn around to get 3.6M+ in a rolling 3 months from where they are.

The interest alone on first trance if fully used is 6M which is 750k on interest which is nearly 13x last qtrs total revenue which was their best qtr yet.

So yes stops dilution (for now) but they would need to get their butts into gear with using the money to massively increase the revenue.