The latest financing agreement was entered into much more recently, I think it mentioned signing in August, September or October so not 18 months ago.
The company didn't want to disclose it was loss leading its expansion effort using debt. Instead of misleading the market and doing a big raise they entered into an agreement with FCC, which I think is a much better option if I had to choose 2.
The ideal one would have just to disclose the strategy and raise some cash.
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