RE: Results3 Oct 2018 23:05
Clearly stated by Feedback. It is for 'growth opportunities'.
"The Company is considering additional funding for its mid-term working capital requirements and to deliver on its longer-term growth opportunities and plans to raise the additional capital through public or private financings and/or partnering opportunities."
"Feedback is seeing considerable sales growth potential in the near to mid-term, especially in Asia. In order to enable it to also address the huge potential in the US market for the mid to long term, the Company has initiated plans for regulatory approval of TexRAD with the US FDA including 510k as medical device and CFR Chapter 21 part 11 compliance for use in clinical trials of drug candidates for FDA marketing approval."
I could be wrong here but have always been under the impression that 'near-term' funding was for use in the current financial year, 'mid-term' funding was for 1 to 3 years after the current financial year, and 'long term' funding was for 3 years and beyond the current financial year. The funding they seek may still be a good few months away as it is classified as 'mid-term' funding.