The first million dollars in investments mobilized has provided the groundwork for the charter capital of the future production. It will total $ 2.8 million. The charter capital will be increased gradually, taking into account the receipt of installment payments.
Active preparations are currently underway: the legal and production architecture is being built, and the required permits are being issued.
The main task for the coming weeks is opening the settlement accounts and depositing the first portion of the capital. Ivan Saltanov, CEO of Shenzhen MLC Limited, will travel to China to handle these matters.
This step will be the starting point for arranging funding for a contract manufacturing test batch of CGM devices.
Shenzhen MLC Limited is the key manufacturing arm of the project. The process of obtaining the licenses necessary for production is underway in parallel.
Legal procedures, including the capital injection, may take time, as under the laws of China such processes require strict adherence to the regulations and are not expected to be finalized until the end of July at the earliest.
In the coming months, the manufacturing company will start funding the production of CGM device components.
Next step will involve assembling the device from the manufactured components.
Each step requires a specific deadline, as well as a balanced approach on the part of the team.
