they will get the cash ... but basically a significant down-round from the last equity raise @ A$1.00 in september, and convertible in december at $1.10 valuation.
as far as solvency, i think everyone know they are technically insolvent from day-one (as with many other tech 'startups') - their ongoing concern is really dependent on subsequent financing.
they will get the cash ... but basically a significant...
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