finance announcement, page-2

So the GRES deal lapsed and in order to secure the $20m they've had to borrow an additional $EU5m in order to satisfy a new GRES deal. This is material news that should have been announced. Poor governance.

Now that this $EU5m is secured, they believe it will get the GRES deal over the line.

A lot of 'ifs' in this. They seem to be so highly leveraged that I don't see how this makes their position any better.

Of the $EU5m only $EU3m is available to them initially. So to answer the question, no - it's not enough.

Their simply borrowing from Peter to pay Paul.