I don't think they were in a rush to cap raise, they were more trying to wriggle out of a fairly pointed question. I think they were agreeing a cap raise would/might be necessary but that they would hope that they would have sufficient numbers on the score board to push through a positive story of expansion and hopefully a higher share price. To me that news would be at least 2 Quarters away. They would need that to prove the trend in sales was established and that they can continue to manage their cost base. I agree there was a lot wriggling around the lead figures. I really feel we need to see 100% sale growth in the next two quarters to shore up opinion, put a base under the share price and then go into a cap raise with a reasonable chance of a solid date rather than a goal to \cash flow breakeven. 50 units followed by 100 units, that would be something you can hang your hat on. If they cant do that maybe we haven't got the product we thought we had.
I emailed a question regarding recurring revenue for non US sold units, didn't get an answer so it doesn't look like they are looking at that which I think is a big mistake.
IPD Price at posting:
6.4¢ Sentiment: Hold Disclosure: Held
