Ann: Placement completed successfully raising $1.25 million, page-16

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15/12/23

16:59

Post #: 71476636
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Originally posted by dunnomuch: ↑

What a disappointing outcome... I honestly thought we had a better option over the line on Monday evening... the biggest problem is the reactionary raising for too small an amount at too high a discount on a reducing capital base. Just blows my mind how short sighted people can be and absolutely reaffirms my belief in smaller investor bases in unlisted entities.

At the last meeting it was plainly obvious that more money was needed and instead of creating a platform from which to raise funds... we get screwed at the last minute. There was an opportunity to use a facility in essence like a SAFE note that you see a lot of in unlisted land. Basically you tip the money in almost as a loan and when the next "priced" round comes out you receive shares with a corresponding discount. Just for the sake of maths.... A 20% discount SAFE note for $100k would mean an investor tips in $100k and then when the next raise happens at say 5c there is a 20% discount applied (1c per share discount) so would receive 2.5m shares at 4c. You still get better than market price but there is materially less dilution, upon exercise of the SAFE note you would also often get an option per new share or 1 for 2,3,4 etc... less dilution so your existing shareholding is worth more... instead... we get a MASSIVE discount and savage dilution... with more to come with the rights issue...

the price is holding up because it was MASSIVELY oversubscribed by 2 new investors... we will wait to see the next T20 for confirmation... apparently there was enough interest to take $2m but they didn't want that dilution... so instead of increasing the price and backing off demand to aim for $1.25m at maybe 2.8c they just vaporise the share price and take less..... but set up for a crappy price to raise again from..... wtf.....

I can understand the frustration around timing of cashflows from places like Broward and the 3 grants that have been shortlisted for.. I get that you can be stuck between these things and that they are material... HOWEVER I can't understand why a Plan B, C and D wasn't around 6 months ago... Private Credit was available and with time enough could have been sourced to plug all the gaps... didn't work out that way though... so frustrating. What is more frustrating is that rather than raise a year of money we are at a bit better than half which means either a MATERIAL contract or 3 MATERIALISES in 3-6 months or there is ANOTHER raise... for me, I have run out of patience and trust with the board and won't be tipping in more money for raises. I can't currently buy or sell any shares so I guess its currently academic only...

sooooooooo disappointing... let's see if Ron has more shares after this....

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Why did the better option fall through Dunno?

What do you think is going on here?

I know 2c is a massive discount, but what new investors are coming in on this for decent dollar now?

HMD Price at posting: 2.0¢ Sentiment: Hold Disclosure: Held
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Last 2.1¢		Change 0.000(0.00%)		Mkt cap ! $13.29M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
3	1099500	2.0¢

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Price($)	Vol.	No.
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No.	Vol.	Price($)
3	1099500	0.020
2	1028971	0.018
1	1000000	0.017
2	1042548	0.015
1	200000	0.014

Price($)	Vol.	No.
0.022	150000	1
0.024	200000	1
0.025	72222	1
0.026	156429	1
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Ann: Placement completed successfully raising $1.25 million, page-16

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Ann: Placement completed successfully raising $1.25 million, page-16

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