I hope you're right as I like the company. Net cash is $1m and underlying operating cash flow this year was -$1.2m. Unless there is a step change in revenue growth (something we haven't seen in recent years) then a capital raising is on the horizon. They are cutting it very fine. Capital raisings aren't necessarily bad, but this one will be somewhat dilutive. Raising $3m would be 25% of issued stock at the current price.
Ann: 5th Consecutive Year of Profit, page-7
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