Stock market is literally designed to raise capital, which is what they did.
$40 mill would have brought in some significant new holders to the register. A more diverse register means it's no longer a small cap with a single 800 pound gorilla freely setting pricing. This should hopefully mean that the we will slowly start to see a true valuation reflected on the share price.
It also means the company can focus key priorities without constantly worrying about capital constraints and webinars begging for people to support the share price.
ATH Price at posting:
1.2¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)