Fractional property investment company DomaCom (ASX:DCL) wishes to provide the following market update regarding its cash position:
- The company is negotiating several 2 & 3 year Convertible Note issues that will raise up to $3 million in cash for the company and has the agreements for $1.7 million currently in progress
- The company has entered into an agreement to factor the 2017/2018 ATO R&D rebate that should deliver up to $800k to the company over the next 7 months
- The company will announce a significant cost reduction program during January the extent of which will be determined when the total raised though the Convertible Note is known
The company will make further market updates during January.
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