At the end of December 2018 Flinders had $2.81 million in the bank after spending $2.3 million that quarter.
If that spending has continued then Flinders will be reliant on the PIO loan of $3 million that will keep us going till about June 2019, then what? and how do we pay for the loan?
Of interest is the part of the loan agreement that says:
"Flinders may not incur any unsecured financial indebtedness exceeding A$5 million without the prior written approval of PIO"
"Flinders may not create any interest or encumbrance over any of the company's assets without prior written consent of PIO"
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At the end of December 2018 Flinders had $2.81 million in the...
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