Incredibly disappointing to find ourselves in another capital raise.
I am sure more details will come to light on why now rather than hold off
You would have to think the reasons must be very compelling give the company would know only too well they would get smashed at the AGM
The company needs a strong financial footing to enter long term discussions with partners - no one would think it is a good starting point for example to be trying to negotiate a contract with a goliath like Mercedes when they know we have barely enough cash to survive 6 months. Hard to squeeze a good deal from that perspective.
That said you would hope that if our partners see the true value we can provide then they would be willing to provide some funding to ensure our (and their) success.
I certainly hope some good news is released prior to the AGM to encourage long term shareholders to contribute. The more shares that go to traders the more selling pressure we have to absorb before the share price can climb again.
ADO Price at posting:
2.7¢ Sentiment: Buy Disclosure: Held
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