Ann: Investment Transaction For PrIME Biologics P, page-13

re: Ann: Investment Transaction For PrIME Bio... To the reader of the announcement;

"The investment of SGD$16 million, based on a pre-money valuation of SGD$27 million, is to take place via a series of four tranches with the first tranche of SGD$6.4 million to be received upon the completion of the First Milestone."

This means we still have no money. We still need complete the "First Milestone", whatever that is.

So the announcement is about the potential to maybe get some money if the company can achieve what it said it could achieve by 2011, and still has not achieved, but says it will achieve by...???? Why didn't they announce when this is expected to be achieved?

What's the bet that this is not achieved in 2014?