Ann: XTEK Prospectus of 14 July 2015, page-28

I see it as a great thing too.
Just looking at the timimg of it, this is when the FCT testing is coming to an end. If it was a failure, i don't think they would have setup this kind of placement. In my mind they are getting ready for a lightweight body armor JV. They just had to make sure they had the finance available before agreeing to anything. It puts them in a much better position.
I could be wrong but that's my gut feeling. We should know more soon.