Ann: DW8 Secures Institutional Funding Launches Entitlement Offer, page-247

I had my eye on this stock as a potential investment when it was at 6 cents as of last September. Thankfully I never pulled the trigger at any moment because management has never managed to convince me with what they've done up to this day, not to mention, the total collapse of the SP.

Management has overpaid to acquire Kaddy which wasn't making a profit whatsoever, when they should've focused on making a profit with Partons, then move onto acquiring Kaddy. Better to be cashflow positive to prove what they are doing works than to end up in this predicament of having too many assets to manage by throwing cash at.

There are only small craft beverage brands onboard Kaddy, no big brands like Asahi because there is no incentive for them to change to Kaddy; seriously, a 1.25% fee to use Kaddy? Ebev offers their platform use for free. Whether Ebev can make a profit when they list on the ASX next year is up for debate, but the fact that a lot of the big name venues and suppliers are with Ebev as of now indicates that they are doing something right.

There's also the financial part on DW8, they assured shareholders cash runway will extend to 2023 calender year. It hasn't even been two months into the new financial year and as a result they're almost out of cash. They initially have to resort to securing funds via convertible note which is not great which dropped the SP, but now that they won't be able to get the funds on time, they resort to the method every shareholder dreads, issuing hundreds of millions of new shares at an even lower SP.

Increased cash burn, no big brands or venues using Kaddy, no sign of profit eventuating, ran out of cash this month, ~3 billion shares on issue, and now a 1c SP. This is just embarrassing at this point. Also, plans to expand globally? Pure arrogance, not confidence. DW8 can't even handle the domestic market here, what makes them think they can gain a foothold overseas like in the US?

If I was a big name supplier, and then looked into the financials of DW8, why would I pay to use Kaddy when they are essentially on shaky financial grounds?