Challenge with that is the $8m cost is more than they have in the coffers so had to announce a CR in some way, there was no other way to pay...
would have been better to walk out with enough cash to cover it, so now their commitments exceeded their funds.
no argument here, this is a monumental fumble. But not fatal.
The PL3 failure was WAY worse in terms of long term implications for the overall company plan, yet the CR following that had good uptake $5.5m raised... and at that time no one knew if it would ever work. That was near fatal.
We know from PL4 the tech works in a way that is relevant in the market. Infineon signing up is validation, they have a pretty good idea it'll work too.
So whenever they get the CR going, hopefully after more positive PL5 updates and maybe before PL6, we should assume a good uptake. Those soph Investors who passed it up yesterday will kick themselves (unless they're the ones buying on the market today).
if next CR is after positive news, can only see it being higher SP at that time.
4DS Price at posting:
6.3¢ Sentiment: Buy Disclosure: Held
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