But that’s going to be a tough ask.. adding circa 1b shares to the register with a rights issue, which equals circa 2b outstanding after, effectively seeing a circa 20m market cap at current prices.. 7c would be circa 140m in market cap..
And the rights issue aiming to raise 9 million (if fully subscribed) and, based in the info in this quarter, it really only covers 3.5 quarters of capital.. And the majority of that is being eaten up by staff and admin costs..
With the current economic outlooks globally, and the bull market unicorn days unfortunately over, the company would need to have a number of ducks lined up, a blue moon or two and a loootttttt of increased revenue to multiply the market cap 7 times after the rights issue.. I just can’t see that happening, but back to 3 cents? That’s a more likely figure, but it will take some time even with expansion in China..
If it was 2020/2021 I’d be cheering it on, and I’m not saying it’s outside the realms of possibility, I just don’t see it happening..
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