The last MD&A indicates there will be more (see below), but with Longtai there does not seem as much need for the total amount and perhaps there will be more to come from other distributor(s) (plural is mentioned as such in the MD&A as was Asia). It seems building the prototypes/units is pretty expensive though and they are building a lot (4 more for clinical trials in the next quarter on top of the 7 build this quarter). Another issue, anyone know why they did not indicate when the latest offering is scheduled to close?
On July 23, 2015, the Company filed with the securities regulators in Ontario, British Columbia and Alberta, a Preliminary Short Form Base Shelf Prospectus, relating to the offering for sale from time to time, during the 25 month period covered by the prospectus, securities with a total offering price of U.S. $45 million. The securities may be offered separately or together, in amounts, at prices and on terms to be determined based on market conditions at the time of the sale and set forth in an accompanying prospectus supplement. The Company currently intends to use the net proceeds from the sale of the securities for the Company’s research and development of a clinical-grade prototype of its SPORT™ Surgical System, pre-clinical trial and regulatory costs and for working capital and other general corporate purposes.
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