Ann: R & D Tax Incentive Funding Agreement, page-2

I can't believe a company can release this without the terms of the deal. In the absence of that IMO one can only assume that Radium Capital is receiving the 20% as a fee. If that's the case then it would be expensive money as it would mean the full rebate should be 545830/.8 or $682287.50 and as a result the fee would be $682287.50-$545830 = $136457.50.

What it does demonstrate IMO is that the company just can't raise money at any level. I do like Darryl's comments basically that this capital raising basically allows them to further develop the capital raising plans for the next capital raising. Sounds like a company on the treadmill to me.