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the recent prospectus mentions the placement was used to pay...

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Coffeekick

85 Posts.

76

28/04/23

06:07

Post #: 67492228
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Originally posted by andys_network: ↑

Subsequent to the end of the quarter the Company announced, a capital raise of
up to $1.49 million (Placement). The Placement is to sophisticated and professional
investors as introduced by the CPS Capital. The Placement will comprise of a
maximum issue of up to 135,454,545 fully paid ordinary shares at $0.011 per share
as well as the execution of an additional subscription agreement of $55,000 due in
August 2023.

On 27 April 2023, Wellfully announced it had received a $322,000 cash refund
under the Federal Government’s Research and Development Tax Incentive
Scheme.

Yes. There is money in the bank.

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the recent prospectus mentions the placement was used to pay down some of the debt and after that had $1000 cash balance. It also said they needed more capital to pay debt as it falls due. I’m guessing not as much cash as you think remains.

WFL Price at posting: 0.9¢ Sentiment: None Disclosure: Not Held
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