Hi @T_Armer and everyone else,
Firstly let me apologise for not being able to keep my promise to update you as I had hoped. This is my first time raising capital on this scale and I was probably over optimistic on time lines and unaware of how things can go pear shaped!
We had an investor all lined to take the remaining funds in Series C. After beginning our due diligence we started to think he was a bit of a dodgy punter, and after a while it became apparent we weren’t going to be able/didn’t want to progress. That meant we had to go back to our list of existing and potential investors and find new investor/s. It was a painful decision, but under no circumstances were we going to contaminate Xinja by bringing in a significant shareholder that didn’t align with our ethical views and positions.
I am happy to say however, that we were pretty rapidly able to secure a considerable amount of funding to replace the investment. The bi-monthly investor update will be out very shortly and I will expand a bit more in that.
Thanks for being a shareholder, and again I am really sorry it took a bit longer than I had planned to come back to you.