Ann: Trading Halt, page-81

I'm inclined to agree Timeline - the more I think about it, things did not happen at the pace and share price impact that Management and the Board would had been hoping for, since the capital raise earlier this year. Remembering subscribers into that raise received corresponding options exercisable at 50 cents.

I am sure management would have been hoping to have the share price over 50 cents by now and hence a bunch of those options being exercised to give them ongoing capital injections. It got close there for a brief while, but the share price was not sustained and so I suspect this capital raise now is necessary to top up working capital and give them headroom for the moment.

If my reading is correct, they would still be working on the eventual receipt of funds from the exercise of those options, but it will have to wait until they deliver some tangible outcomes that drives the share price comfortably over the 50 cent mark. So hence we are back to talking about commissioning of iM2NY, a SPAC listing for iM3NY, tangible progress on Nachu, etc all of which are most likely calendar 2022 potential outcomes - they need a solid18 months of working capital runway between now and then to be able to operate comfortably and focus on delivery.

We will know tomorrow - GLTA and DYOR.