The company raised funds yes, but there could some question...

The company raised funds yes, but there could some question marks.

what about the convertible note from late last year that needed to be exercised within 10 days of the most recent cap raise.

the 10 day period has lapsed… and by a lot. No notice has been provided to the ASX new issues shares.

Maybe this is a clue to resolution / issues being added to the EGM or discussed with the ASX.

maybe the convertible note had a term whereby holders could elect conversion into cash upon expiry instead of shares (which most do) and the hasty top up raise was used to help pay this down, along with some funds from the raise.

until there is transparency and a updated set of accounts one would be wise to factor a worse case scenario that funds raised could be $1.5 mill - $700k.

add in factory upgrades and stocking the working capital could be tight. Now revise the statement from the half yearly above.