Ann: Appendix 4C, page-39

The maximum which can be raised under an SPP (per holding) is $15K. My thoughts were the retail base is relatively low compared to the top 20 which accounts for around 90% of the stock (from memory). So maximum which could be raised would not have been much as most retail investors do not buy their full allotment. But I guess it would have been another month or two of cash burn at current rates.

I think if they can show a measurable timeline to break even then they won't have trouble gaining the extra capital which could even be done through their a loan facility. They were able to get a loan facility last year even without any sign of break even. So we may never see a CR again.

At this time, we don't have enough data points to make a decent guess at the break even point, unfortunately. Maybe next 4C, we might have this and this would help put a floor in the SP. But these volumes are quite light and do not concern me. I have also picked up more in the last week.