Ann: NNG Loan Facility Agreement, page-16

So this new borrowing deal still relies on raising new equity of more than $3million. If it works then it must mean serious dilution of existing shareholdings - especially for a market share price of 1.5cents per share. If the equity raising work is not successful then the new loan arrangements are off the table - right? At current pace seems like the first acquisitions won't proceed until at least 31 March 2024 or mid 2024 when the share price might have recovered somewhat - or did I miss something?