Satellite start-up SpaceLink fights for survival, page-23

So what was the point of the exercise? Running over old ground here, but the foresight of the board was abysmal. Where was the future planning for funding? Then amazingly, the board put their thinking caps on and actively decided to remove any floor that the Share price may've had by offering the discount to SOL, which in turn plunged the share price into freefall. Like you say, for holders the CR was a nothing amount. Like a token gesture. Did they not consider that the share price would crater in the manner that it has?

On the day prior to the announcement of the trading halt, EOS' share price closed at $1.54. It seems ABSOLUTELY LUDICROUS that they offered up 12,500,000 shares at $1.20 and a paltry 1.6m shares to existing holders. Surely a more appropriate approach would've been to undertake a CR much, much earlier prior to the you-know-what hitting the proverbial, despite shareholder dilution (again) and the guarantee by the 'then CEO' that there would not be any capital raisings. But management failed. All of them failed. How's this for a dumb idea....How about we offer insto's EOS shares at a 10% discount to the current SP and a SPP to shareholders at a further 2.5% discount to that offered to the insto's? That would've netted the company more funds and protected the SP somewhat. I dunno...it's just a thought.

On June 29, EOS released an announcement of a "Successful AU$15m Placement". Out of those 12.5m shares on offer, SOL purchased a total of 10,142,613 units. Who knows if EOS were successful with the remaining 2.3 million shares 'valued' at AU$2.8m...which as of today are valued at AU$1.8m? But the announcement states that it was "successful"...so be it.

Here's a question for you. What do Appen, Marley Spoon and EOS have in common? I'll give you a clue. The commonality is also shared with Promedicus, but PME can't be lobbed into the same basket as the aforementioned dogs. Any takers?