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It amazes me that they would leave themselves just a quarter's worth of working capital and when they know they need to raise funds not take advantage of material news pieces in order to generate buying

Assume a $3M raise (given the rate they are burning cash) then it's likely going to be 1Bn shares issued at 0.3c, and I assume they'll want some options to boot, perhaps a 1:1 free ALTOA

The issue is, they will likely spend that within 6 months and if the market is expecting sales and they continue pouring funds into R&D it is going to get butchered next CR unless they side with a large pharma or produce stellar clinical results

Previously punters would have been happy to back their CR's as they always rallied well above the price, however the last one at 0.8c didn't and they now face dilution at a minimum 50% discount

IMO, they should offer to sell the IP of the PeriCoach, Autoflush and Autostart burette to the likes of a Baxter or Carefusion and just be happy with the upfront + royalty