Question is how fast and hard does Aaron intend to grow. The convertible note provided enough cash to fund the working capital gap from winning contracts as mentioned by your working capital estimates in previous posts. Aaron has been spending some more time on IR with pitches to institutional investors over the past 4 months. No doubt he is considering the best capital structure moving forward. I suspect Aaron will opt for a cap raise to fund further growth instead of another con note. This will coincide with a re-rate in the share price from contract wins, results and or guidances which appears likely over the coming 6 months.
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