Pa-one,One of the great benefits of doing R&D in Australia is...

Pa-one,
One of the great benefits of doing R&D in Australia is the R&D tax incentive (RDTI), which refunds nearly half of your R&D expenses. The trouble is that you do don't receive the benefit until after you file your year-end tax return, so it generally arrives in September. In the meantime, we have a Phase 3 clinical trial that we have to fund, which will stretch our cash flows in July and August while we wait for the RDTI; to bridge that gap we conducted a small $1 million raising, in which the two founders (Stephen Goodall and I) participated, to help it along. We have plenty of shares already so this wasn't a nest-feathering exercise. Because we are directors, our shares need to be approved by shareholders - that's "Why" we have to have the shareholders' meeting.
Peter M