"In regards to raising capital, in Sep TZs cashflow forecast would have shown that they'd be out of money by Feb. So why didn't they conduct a rights issue or spp to us back when the price was above 50c? Why did they wait for the last possible minute and allow themselves to be squeezed on price?"
On that point, I have it confirmed that the Top 20 shareholder who exited his position 3 days before capital raising announcement is indeed a prophet. His friendship with someone was purely coincidental.
open letter to tz, page-48
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