@PabloEskyBruh It seems like they really need these options converted to keep going. As someone who has followed Anteris for a while when do you think their valve would be released to the market if they don't get taken over or run out of cash first? Even if the options all get taken up that is only another 2 quarters at the current cash burn rate and it doesn't look liek they expect this to slow down any time soon. I find this one interesting but I am not sure exactly which end game the company wants.

I was looking at the 4C the other day and noticed they only have $20m cash left and are burning $12m a qrt. In the 4C the have 1.7 quarters of cash remaining and in response said "8.6.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?

Answer:

• During this quarter, the Company raised gross proceeds of $1.7M primarily from the conversion of unlisted options. Since 30 June 2023, the Company has raised a further $812k from the conversion of unlisted options.

• At the date of this report, 2,038,099 options held by external investors, with expiry dates between now and 2025, are in-the-money and could be exercised at any time. If all of these were converted, they would generate $22.9m of capital for the Company. It is anticipated that some of these options will be converted prior to maturity.

• The Company has an established track record of successfully raising new capital and debt facilities. The Company has continued to demonstrate successful results with its Research and development program including the one-year results of the First-in- human trials for both cohorts 1 and 2 as well as the 30-day results for cohort 3. The Company is also preparing for an Early Feasibility Study in the United States. All these factors are anticipated to be supportive of continuing to be able to raise new capital and debt facilities in the future.