Sounds like a worst case scenario. You are probably right in saying that costs will soak up the funding, but it depends how well this funding's put to use as to whether or not they can create a more viable plan quickly enough which will improve performance and cash flow. Dilution? Typical Range ploy but not for a while until the funding has begun to be whittled away into things like 'costs' such as Admin, normal running costs and of course 'internal IOU's' not forgetting 'wages' assuming they can find a big enough Jiffy Bag EACH. Make that a Bin Liner.
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