Ann: PharmAust Presentation, page-69

Good points. I understood that MT is one for addressing elephants in the room. In this presentation he explains that the trial will cost around $25m but only raises around $10m but does not explain why. There is messaging of priming the entity for takeover (mentioned more than once) and the final point made around acceptance into the Healy platform which could half the trial timeframe. However MT does not directly address why there is, even after this raise, a substantial shortfall in funds for a trial which is set to commence in H2, 2024. I find it odd if it is another standard raise within a few months that the company has in mind, and so likely something far more interesting could unfold in the coming months.