Ann: Incannex Undertakes A$13 Million Institutional Placement, page-154

Not one of us can predict what the market will do next year. The company has an opportunity to bank $13 million now with a consortium of institutional investors who have a background of supporting healthcare stocks. The board also have an obligation to assess the investment and determine if this is in the best interests of the business.

In answer to your question, I’m excited to see a board that will not cross their fingers and hope it all works out. That’s the sign of a board that is prepared to make difficult decisions when required to ensure the business is funded. Don’t forget the board has more “skin in the game” than anyone. That’s motivation to get the best deal available in these market conditions and yet I’m reading all these armchair director comments from people who’ve enjoyed all the benefits of Joel’s business acumen without any responsibility for managing a $400m company. It’s honestly pathetic and I’ve got zero time for those people.

The investment group has not been disclosed to the market at this point, however I can assure you that if Joel states it’s strategic then it absolutely is. I’ve spent enough time with him to say he’s never going to do a deal that isn’t for the long term benefit of the company. I understand this group has the capacity to provide significant support and future funding where required and a desire to do exactly that. It’s the start of a partnership with the calibre of investors required to deliver an outcome for all shareholders. Retail punters simply don’t have the depth of capital required.

I couldn’t care less if someone sells at these prices because they’re all emotional. Good riddance. And if you think 20.5c was a great deal for the institutions then guess what? You can buy the stock today for that price.

The OSA results are a potential takeover event and if that occurs it will be billions of dollars IMO. If some HC poster can’t work out what the potential is then go find some other stock to punt, no one cares if you sell.

But if the business isn’t funded then all this clinical work is worth nothing. And that’s why I’ll back Joel 100% with this decision even if there’s some short term angst, because I’m invested for dollars not cents.