Ann: Results of Institutional Offer under Entitlement Offer, page-4

Its a really interesting company and has quality market share already (and growing) but costs are extremely high combined with a raise at 8.5cents, the short term outlook for the share price isn't a good one.

Given the raise amount they might be looking for funds in 6months time again if they continue to blow out their costs. Keen to see the take up and the margins on the ongoing revenue after they initialize the systems. Definitely one to keep on the watchlist but with the increasing interest rates and difficulty obtaining funding its a tough market for small caps burning cash.