Sad that staff have been let go if that is correct. But always the plan was to do all manufacturing overseas and use Perth only for R&D to reduce wage costs. Perhaps this is why staff have been let go now as they begin to implement this plan.
Interesting that they did not push the rights issue through asap if they needed fast cash. I would rather they avoid more dilution and will find a key investor. I also hope after the trading halt the announcement will bring some relief to us long suffering holders.
ATJ Price at posting:
2.1¢ Sentiment: None Disclosure: Held