I can't go with the 10% Placement capacity resolution.
I would've been ok if the resolution was a bit more clearly written, specifying the working capital requirements if certain circumstances arise. (i.e. Military orders received, licencing agreement delivered as promised, etc.)
However, it's the request for a 'blank cheque'/green light to dilution for "acquisition of new assets and investments". I think we need to focus on commercializing what we've got and R&D in process while demonstrating profitability rather than looking to expand without further approval.
Given the track record, if I'm going to get diluted, I'd like to see (and approve) the tangible upside opportunity before I throw (another) 10% value away.
Just my musings.
AJX Price at posting:
37.0¢ Sentiment: Buy Disclosure: Held
