Ann: Investor conference presentation, page-12

All fair points but you haven't taken into account the burn rate per quarter. At this rate they'll need to raise more dough by end of next financial year, meaning further dilution and potential stag of share price. Ultimately, it seems most of us believe RG needs to step aside and allow someone else be the main representative. No doubt he deserves full credit for growing Schrole to where it is today (and that's why he's recently been approved so many performance shares that will soon be converted) but the company now needs a new leader at the helm to take this to the next level.