Well it looks to me as though its just the first cr when you...

Well it looks to me as though its just the first cr when you read the line "further funding will be needed"
On top of that a third is going to pay off some unnamed creditors. Working capital = admin costs.
Project identification costs = more admin costs.
The rest of it seems to be going on, wait for it, admin costs under various titles.
I know companies need money to keep going but I want it put to good use. You know, like actually working towards production of something. Not seeing anything here that makes me want to risk any more money.