I sent the email below to investor relations.. No reply as yet. Though wondering if anyone has thoughts. My concern is, even with the right opportunity availability, Aslot might have reached the limits of its ability to raise sufficient funds to execute its plan. Perhaps they have a contingency scaled back plan.. perhaps cash flow will remain positive to support a scaled back approach. Would be good to better understand all of this... Thoughts...???
"To Investor Relations - I am considering your entitlement offer. But am concerned that the offer has not succeeded in raising sufficient funds. Is there a minimum you need to raise in order execute plans and continue operations? And if you do not, what are the implications - how will you obtain funds to remain in operation and to execute plans? By my estimation, you might raise as little as 54% or $1.3 million (perhaps $1.5 million or 62%) of the $2.4 on offer. That includes, $1.0m from Institutional and $.260 from current directors and Ben Dixon. Which seems a good show of commitment. Though this number seems to have dropped between announcements from $.332 million to $.260. In any event, this comes up significantly short on $2.4 million. Could you please comment on your ability to remain in operation and to execute on plans factoring a reduced funding round intake…"
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- Ann: Retail Entitlement Offer Document
Ann: Retail Entitlement Offer Document, page-9
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