research reports and media, page-2396

Thanks Bob.



These were my thoughts entirely. I think they really missed a window after doing their sums around timelines and cash projections late last year. They could have raised $30-40m comfortably over $2 per share. Instead they released a preso to the market which said...



I remember thinking at the time that this was madness and we were in for a rough Christmas, but more than that it has set the company on a course where there is intense pressure on making a deal. They could have copped 7-9% dilution rendering funding concerns moot, and simultaneously bought themselves a negotiating position of great strength in partnership talks.

Whilst (sitting where we're sitting) i'm disappointed they didn't, i'm hoping that this reflected their confidence in the proximity of a deal. Having to raise towards the end of 2022 at any old price because they didn't get a deal over the line, will be dramatic to say the least. Lets hope it doesn't come to that. If - on the other hand - they never need to raise, then you got to say we have some ballers at the helm. PAR management have made this a binary outcome. It's either ballsy or dumb, and only time will tell which. As they say outside Australia, i'm rooting for them.