Don't take my words above as negative. Just stating that investors should not be totally reliant on info from Petra.
With respect to your comment, I totally disagree with their debt serviceability. The Appendix 5B showed at quarter end they had 0.15 quarters of funding left. They needed to raise as cash flow was just getting too tight (shipping x WMT does not mean receiving that $$ straight away). Don't forget there's payroll, contractors etc. to also pay.
Management have stated insto investors weren't happy with the debt levels (but this is an unverifiable claim). So taking that with a grain of salt.
I am not completely unhappy with the raise, but was hoping the debt would be serviced through cashflow.
Don't take my words above as negative. Just stating that...
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