Ann: Cynata announces $5.55m capital raising, page-47

In July 2015 Cynata did a A$5 mio placement via H.C. Wainwright to US institutional investors at A$0.75:


https://www.asx.com.au/asxpdf/20150715/pdf/42ztr8xfbqytqh.pdf

Now, almost 5 years later, we do a A$3.55 mio placement via H.C. Wainwright in the US for A$0.60:


https://www.asx.com.au/asxpdf/20200422/pdf/44h4x7q12sp82z.pdf

Yes, COVID-19, BUT, 5 years is a long time to provide "value for shareholders", not to mention the "stellar returns", especially after being told that we do have a cash runway for at least another 12 months.

The way I see it, our P1 clinical trial, SDP $2 take-over bid, pre-clinical trial results etc. are worth

A 20% discount over 5 years!

It might be time for a level of personal accountability from the Board!

At a time when everyone out there is struggling, our clinical trials are at a stand-still, presentations are held from home, taking into consideration that we still have two director loans outstanding that could have prolonged the cash-runway even further than 12 months, it might be a good time for the Board to lead by example!

Maybe a 20% pay-cut? That's what the Cynata asx announcements quoted above would suggest to be a fair value when looking at the past 5 years.

It is time for some accountability.

I will leave it at that for now.