Evidence Points to a Capital Raise - Incoming

In my opinion the board have clearly decided to go for a CR before the end of the year and most likely the end of the month.

Evidence

1. They are pumping out news like it is going out of fashion (we have had 4 issues in 2 weeks and only one of them can really be considered price sensitive) and where there are any facts involved they are pushing the positive narrative to the very edge of acceptability (see today clarification) or wrapping things in hyperbole.

2. They have a very full IR schedule ... why now ?

• 6 Oct – Morgans MC21 Conference
• 13 Oct – Reach Markets – The Insider Event
• End Oct – Q2, 4C
• 26 Oct – AusBiotech Conference
• 4 Nov – ****** Biotech Masterclass
• 9 Nov – Bell Potter Healthcare Conference
• 24 Nov – Morgans Technology Conference

3. But the killer for me is something I saw on Ralph's Linkdin profile ...


hmm ... so a couple of days ago Ralph liked the post about the by the lead IB healthcare banker at Bell Potter. Look at Ralph's feed it is all Volpara and mainly imaging related stuff .... he is not a social liker or sharer.

Conclusion

They will be trying to present the company in the best possible light prior to a CR undertaken by Bell Potter. It would appear they would be aiming for the end of the month/early next after the Q2 results .... unless today's supplemental disclosure means they can not take that deal in to the Q2 numbers which would then look very ordinary .