It was the current cash (>$1m) PLUS the potential cash (say,...

It was the current cash (>$1m) PLUS the potential cash (say, $1m), PLUS the shell price of $2m PLUS the "matched" $2m, that stumped me. All up $6m... Hmmm. :P

$6m would go a long way, for sure, Aptayl. But all the company has now is >$1m. Companies that have $6m cash are minnows. This one is a shell with some bio-assets, which seem a bit "frozen" right now- or on ice, at least- to be sold or kept. Monetisation of the assets would be good.

I think in the early life of these emerging shells, a small raising is done- like with MUI- to allow Directors to keep afloat, and then a larger raising might occur if they find suitable assets to buy.