I agree, this is not the way to make an announcement, and saying...

I agree, this is not the way to make an announcement, and saying that all has been already announced by the ASX is wrong

I could no reference anywhere to "have raised funds at 5.3c", mind you neither does it say how much funds it has raised.

I also find this comment intriguing "Companies launching similar services domestically and overseas have spent far in excess of RMA to achieve working systems"

Could this not be classified in the category as we did not not know how much it would cost to deploy so the IPO was unquestionable insufficient.

I think that running out of funds so soon after the IPO (less than 1 year and without any event which could not have been foreseen) reflects badly on the financially modeling and the expenditure process, the market obviously thinks the same hence the lack of support behind the share price.

At the end of day the CEO is the person responsible for this and I think it's time for the CEO to fall on his sword and put some-one in place who has better experience running a Public Company, as I do think that the company has a good future if it was run differently.