amicable agm, page-24

They face a triple edged sword at the moment IMO. Either:

- raise capital at say 0.5 to resource the business properly to generate sales, and then have sufficient working capital to actually meet potential orders (and possibly pay off Lord)

- don't raise capital and given working capital and resource constraints, only convert a limited amount of sales opportunities that the business and finances can cope with

- Lord converts resulting in a major dilution

Whilst there may be some outs (eg big contract announcements supporting a capital raising at better prices), the balance of probabilities is looking very negative IMO.

Disclosure: A handful of shares to have the option of participating in a capital raising