From financialsManagement plans to fund operations of the Company through advances from existing shareholders, private placement of restricted securities or the issuance of shares in lieu of cash for payment of services until such time as the EWA product can be fully released post-close of the QRails transaction.
There are written agreements in place for such funding or issuance of securities, and with the QRails transaction, there is interest in furthering the combined company’s operations to cash-flow positive by early 2024.
The company has secured two competitive term sheets with a US$30,000,000 debt facility to enable its signed EWA contracts. Subsequent to December 31, 2022, the Company raised US$3,500,000 through the issuance of a convertible note, as well the Company has commitments from others to participate in the convertible note pending the closing of the QRails transaction and up-to-date filings of its financial statements