Bit of a shock, page-10

the float was done by Taylor Collison, a reputable and generally excellent (IMO) stockbroker in adelaide (i am not a client); not by Asenna.
Yes, some Asenna clients had seed stock and doubtless would have taken profit in the current market at the valuation the company floated at. Which is precisely the point, and the reasons why this failed to launch are multiple:
wait time from first seed round was 18 months. 10c seed holders would want to access their capital by now.
14D wanted to raise $30-$50 million??!! Couldnt raise it, which was the first warning sign, then raised $16m.
Not cheap at float price of 35c. Not realistic IMO given no functioning installation as yet.
And probably the biggest factor - timing. What a poor market to list in. Pity ,since seed was done 18 months ago, they could have listed early this year or late last year and probably have closed well in the green.
I still think the tech is interesting and will watch the co with interest. Best of luck to all invested.