Ann: Vmoto's 4Q23 Market Update, page-29

Not all cash is committed. And the debt was paid off before the remaining 42.5 million.

None of the 3 dot points below have any cash amount locked in.
The only thing that does is the new manufacturing facility which has outgoings of roughly 10 million remaining if memory serves me. When this is built it will count as an asset anyway.

"The Company’s balance sheet remains strong, with a closing cash position of A$42.5 million as at 31 December
2023.
The closing cash position includes the proceeds of the Company’s recent entitlement offer and follow on
placement, which received strong support and raised a total of A$15.8 million (excluding costs). The Company
will utilise proceeds to assist with:
• discussions with potential partners in Brazil, South America, Thailand and/or Middle East for joint ventures
which may eventuate in 2024;
• pursuing business opportunities more aggressively, relying less on loans and/or existing funds which have
been allocated to the construction of manufacturing facilities in Nanjing, China; and
• reduction of business risks given the current economic climate."