With Spacetalk’s accelerating $600,000monthly cash burn, as...

With Spacetalk’s accelerating $600,000monthly cash burn, as evidenced in the company's latest 4C, why bother with the pathetically low $700,000 capital raise announced last week?

It will take just 4-5 weeks for Simon, Craig and his dingbat Board of Directors to burn through the $700K, and then what?

Shareholders were promised at Spacetalk’s recent capital raise earlier this year only that it would be the last.

The Board proudly spun in March this year ‘with the completion of this $1.23m (before costs) successful capital raise, Spacetalk’sturnaround business plan is now FULLY FUNDED’.

Were they delusional, lying or both?

The company needs $8m+ in new capital to move ahead, and that’s before it pays back the secured $5m owing to Pure Asset Management.

Interesting to see how much the Directors and CEO Simon Crowther plan to stump up themselves in this latest, emergency and highlydilutionary $700K capital raise?

In the past 10 months, Shareholders have been diluted by a whopping 64%.

The Spacetalk Shareholders Group, is now ineffective, as their 5% has now been diluted to under 1.7%. Maybe that was the Boards agenda?

Control of the company is now with Pure Asset Management (secured $5m lender) and Thorney (largest shareholder, at leastuntil the company’s doors remain open anyway).