They borrowed 20 m for three purposes — one that seems to have been discussed during a previous raise
The second 20 m was a standby facility to satisfy the asx
The second one has since been bundled together into one full 40 m loan- disguised as a refinance of old debts at lower rates and for additional working capital ( they were out of money) but I’ve explained before that the explanation was bs imo - they had to do it as they would have breach the loan covenant again given the disclosure of their bank balance in the financials
A40 Price at posting:
8.2¢ Sentiment: Sell Disclosure: Not Held
