Ann: Proposed issue of securities - MEM, page-10

In the half yearly report, i would assume that this issue is for c), b) they received via the loan via the R&D grant. My concern is that they're raising at 0.006 for $1.27mil, imagine the dilution if they want to raise 7 mil by end of August. Hopefully the latter raises are through commercial partnerships and strategic investments.

(b) Obtain immediate finance of approximately $478,000 in order to help meet the Group’s ongoing liabilities until the end of April 2025;
(c) Obtain additional funding of approximately $1,000,000 by April 2025 to help meet the Group’s
ongoing liabilities until the end of May 2025;
(d) Raise working capital of at least $3.5 million by May 2025 and a further $3.5 million by August
2025 to enable funding ongoing operations, including research and development activities in
RoXstaTM and other developing products;
(e) Defer repayment of the principal of its interest-bearing liabilities to Peters Investments Pty Ltd
of $3.9 million beyond June 2025;
(f) Receive ATO refund / R&D grant income by September 2025 to help retire the bridging finance;
and
(g) Successfully commercialise the Felix™ device product and to generate revenue (direct sales
and through licensing arrangements).