The details of the drawadown facility that were mentioned in the...

The details of the drawadown facility that were mentioned in the financials last Friday have now been released via an announcement - you were right Chilia.

The funds will result in further dillution via conversion of debt to equity and can only be drawn down as $175k every 20 days. As per the latest financials, this will not be sufficient given the high cash burn and tiny income levels. It also states that shares will be at a 4% discount to average price of traded RMA shares in the prior 20 days - so how do they arrive at a figure if the stock doesn't trade? Also they are subject to a further 5% discount via commission. If share capital is about $3m+/- now, what will be left for existing shareholders should all of the facility be utilised?

Now I understand why the comment was made that such facilities are known as the lender of last resort.