A small proprietary company recently faced cash-flow problems. The directors unable to pay fixed costs that include expensive equipment and the rent of the company's primary research facility. Unless they can secure some finance over the next few months, otherwise they will face company bankrupt and lose their job.The leading director of the company has asked the company's banks to extend loans to its current accounts, but they have refused. The bank also warned him that if the company did not have the money, he could be personally liable for the company's debts. In addition to that, Henry does not to pay the company's debts out of his own pocket but if he can get some short-term funding then he has no plans to shut down his research.

From this case, how can I advise him for the business prospects(chapter of fundraising) and advise for the insolvency risks.

Can you give me some case example and the explanation as well as advise me how to write well in IRAC format.

Lastly, thanks for the helping.