Ann: Results of Share Purchase Plan offer, page-9

Abe, if your happy to answer did you participate in this raise?

I personally didn’t as I have been disappointed in revenues and lack of information on commercial agreements.

If the money had been raised purely to scale Satipharm production to take advantage of upcoming opportunities, with current revenues almost covering operating costs I would have been all in. We all know however it’s money desperately needed to just support short term operations. They may not directly say it but you can read between the lines here -

’Funds will also be used to assist with working capital over the medium term, while the Company pursues both the scale-up of manufacturing capability and the preparation and submission of a registration dossier for the Satipharm S3 capsule product.’

I am eager to see the next quarterly. I am unsure how they are going to keep this up if they don’t significantly increase revenues from what they can currently produce (dried flower, oil etc). There will be no money from OTC until mid year 2024, with the registration expected to take the whole of 2023.