Ann: PharmAust receives $210k prepayment of forecast R&D rebate, page-55

This high interest loan has me stumped.
CR's have high costs- especially if done via share purchase plans (ie. So a short term high interest loan may actually be cheaper? Especially if the amount is relatively small?)
So why not just tap a few soph's? Maybe Roger doesn't want to be diluted? Then why doesn't he or management just chip in with more skin via director's loan or script? Blackout period perhaps?
Why need the money when previously they announced that trials are fully funded? Anyone residing on planet earth knows how expensive everything has become of late- so why not just say so? Just blame inflation.
Management have said that they are trying to lock in funding now before capital markets tighten, so maybe this is just what it is. Maybe they have gone to market and nobody has the appetite at the moment?? We are afterall in the "sell in May and stay away" period.
Does management see no appetite from July 1st onwards? Are we not due some interim results around that time? Say, the type of results that might push our SP higher and ripe for a plumply discounted CR?
Think Pooh Think!
High interest loans are what junkies get themselves into, not seasoned directors. If things were so dire then management would surely just bat it out for as long as possible, sack a few underlings, collect their fees and then jump ship when it suits?
Are management in negotiations with a suitor where changes in capital structure/voting power are forbiden? If so, I certainly hope it is only for a portion of the company (ie. Animal Oncology) and not all of it!!
Maybe the simplest guess is most likely- high returns are expected shortly, so a short term, high cost, non-dillutive funding arrangement is the best way to go? They can't say this, so the absence of any other explanation may be key. Listen to what has NOT been said.
Well the packet of Grainwaves is empty and the malbec is all but gone, so I must be off to bed dyor and all that