$500k was raised in late December, so 3 months ago.
I bet FIJ is wishing they raised more at 1.5c - rather than looking down the barrel of a potentially very ugly cap raise.
There have been some positive threads of news lately - and certainly some hope for the future. I'm glad to see FIJ cleaning up its image, updating websites, and the steely focus on profitability. But wow - there has been some amateurish stuff and corporate missteps over the last 12 months.
It can only get better... right?
I'm somewhat reassured by the strengthening of the FIJ Board. I see both AN and ZY as smart individuals, and it's refreshing to see an Executive team working to build a good business, rather than having their heads in the trough. I also like that they are trying to make a difference in Fiji, and working in an area that can potentially help people, i.e managing stress - a universal challenge.
I do wonder whether FIJ is confident of shareholders voting in favour of that resolution to raise $2m? I think they have every reason to feel nervous about that one getting up - especially if the voting in last year's AGM provides any indication.
Not much from James Dack and Jim Tonkin since they joined FIJ - what do they make of the company's prospects?
If these guys supported a capital raise, I'm sure that would get a very different reaction from shareholders and the market. I would certainly get behind that.
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