Ann: Pivotal Secures Additional Funding, page-4

PVS is defining desperation at the moment. A total of US$600k now borrowed from this lender of last resort, which becomes a US$1.8m liability if they sell the business any time in the next 12 months. That's AU$2.8m!! They'd need to sell the business for a whole lot of money in order for its equity to be worth more than the current EV.