Spectur Ltd. (AU:SP3) has released an update.
Spectur Limited, a company specializing in solar security and AI solutions, has decided to draw a short-term loan of $271k from Radium Capital, secured against its anticipated FY24 R&D tax return. This move comes as a precautionary measure to ensure sufficient cash flow in anticipation of one-off Q1 expenses, amidst market volatility and potential project delays. The loan, which features a 16% annual interest rate and no early repayment penalty, reflects the company’s conservative financial strategy to maintain liquidity for upcoming sales opportunities.
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