Ann: Share placement, page-9

Hmmm...
My calcs were good Olympian.
The 3B for the SPP was 19th May - certainly this quarter - raised $102k which does not appear in the quarterly . Would like to know where that money is
Furthermore, the $270k they claim to have raised in the placement is represented as $248k in the quarterly (that's an 8% commission to the advisory which is well above market rate of 6%). They didn't mention anything about advisory fees for the raise in the announcement which is also a bit troubling.
They paid off a small amount of the director debt ($24k).
I think the costs for salaries is reasonable; but hard to swallow the $85k for corporate and admin costs (especially since they have subtracted $22k out of the placement funds already for what can only be corporate costs).
Cash burn for next quarter just $40k they reckon. So why so high this past quarter?
They will need to take further loans from directors or raise again. If they did raise, It would be a poor look to raise lower than previous given how recent that last raise was ( 2 months ago approx.!).
The last raise was at 3c (not 1.5c). So hopefully a bit of a pump from here.