News: NXS Next Science Sees FY24 To Deliver Significant Topline Growth Across 3 Key Areas Of..., page-12

I guess I.V. is feeling a bit silly (again), for announcing a potential raise but not actually doing a raise. He's basically managed to double the dilution by frightening everyone. A lack of experience in the hot seat?

On the plus side, he said he was comfortable with their working capital position. Didn't feel a raise was necessary, it was more for contingencies or acquisitions. He's really improved the cash conversion cycle in recent periods, inventory turns faster now. He's also removed a fair bit of cost (allegedly) by switching to 1099s.

Unless we're missing an important piece of news about competitors, then I'll be amazed if that strong demand has just disappeared. This should be growing again with a lower cost base.

Famous last words!