Ann: Sensera Secures A$9.4 million in Debt and Equity, page-24

You wot m8?

The management team is creating opportunities in an undeveloped growth industry.
How relevant is positive cash flow if you're exponentially building your sales pipeline.
Positive cash flow with low sales is not equal to positive cash flow with a far greater number of sales.

Spend money now to widen the pipe and then cut back later when the sales are far greater and your company is worth multiples more.

The finance rate is largely irrelevant. You only ever borrow money if it's worth your while.
They clearly aren't fools. The obviously have sales opportunities that will pay this facility back as well as turn suitable profit.
Otherwise they would have just grabbed a few extra million from sophs.

I don't disagree with you that management has let you down. I think that they have destroyed short term value for investors in return for larger gains in the future. If that's not to your liking then who am I to say that its wrong.

I for one am lucky enough to be able to place this one away and fill up at the lower pricing.