General Comments, page-23

The gossip on the Trading Halt thread suggests a capital raising at 7.5c to be announced on Monday. This makes eminent sense and shows the board has leant from being wedged into making a highly dilutive issue to satisfy audit/going concern issues earlier in the year.
I'm assuming it will be a placement to raise sufficient funds to see the company through to late 2020 plus an SPP offered to retail investors, up to some smaller amount offered in the placement and subject to allocation if over-subscribed.
The price is smart, the run to 10.5c earlier in the month demonstrates there is strong demand for good news and leaves money on the table for the participants in the placement, notwithstanding the shares have been consistently selling below 7.5c since last week. The presentation to go with the putative placement and announcement on Monday should have sufficient information to substantiate a premium to the issue price and encourage retail uptake in an SPP.
Reading between the lines, don't expect any further major news until well into the new year. The management will have the cash and can focus on driving sales and maximising opportunities on the table without a gun at its head about running out of money when on the verge of a major deal. That does not exclude serendipitous events earlier.
If, as assumed, above it addresses one of my earlier criticisms of the board. Well done!
Now to the management's capability to translate activity in substantial sales. A table in the presentation that will accompany the (assumed) presentation on Monday that shows:
- Number of children on the Tali Train program in the six months to 31 December 2018, 30 June 2019 and an estimate for 31 December 2019 (18 weeks out of 26 weeks for the quarter completed to date) .
- Number on the program that paid
- The revenue for the period
A target (not forecast) for the first and second halves of 2020 of the Number of Paying Users and estimated revenue range per paying customer.
The board needs to put management on the line to perform and share that with its shareholders.