Ann: Investor Presentation - FY22 Results and Capital Raise, page-5

Yep - I am normally a supporter of this management, but I cannot see how this CR deal is done in the best interests of all shareholders?

They have the opportunity to announce a great annual report - with revenues up 148% to $143m, and with a revenue run rate of over $200m pa.

Nett loss increased to $50m - but that includes approximately $91m of provisions.

And with the much talked about large $ synergies from the recent acquisition continuing to assist the profitability of this business going forward - so FY 22/23 should be a cracker.

So what do management do:

They announce the CR days before they release the great annual report - so give the share price no chance to rise.
They do the CR at a woeful price of 50 cents per share - a massive 28% + discount to the last traded price (which was already low).
They offer retail investors a pathetic total of $1.2m in a SPP.
And they announce that there will be a "Director Offer" of $1.2m at the 50 cent offer price - so they can participate at this low offer price.

Talk about looking after themselves, and also looking after the big end of town - all whilst screwing over their loyal retail and IPO investors.

I am pretty level headed as a rule, but this is pretty ordinary by MME management IMO