Ann: $2.48m Non-Renounceable Rights Issue, page-17

I think you raise some valid points.  But while there have been 3 capital raises it needs to be put into perspective.  The IPO to this 3rd CR will mean that only about 15mil has been raised since floated.  Compare that to someone like Health Engine whose last raise was 26mil!!!!!!  before that I think they had raised like 70mil

https://hotcopper.com.au/posts/25205658/single

A single quarter of no profit does not personally worry me as long as there is a clear path to CF+.  I invest in many companies (portfolio of like 45 listed and 10 seed) and barely any of of them making a profit but show a path to being profitable (XRO, PLS, SW1, GNX).  I suggest you refer to this post showing the graph of the quarterlies.  Costs are now pretty stagnant yet revenues are increasing (but not quick enough to catch costs)...

https://hotcopper.com.au/posts/36269855/single

But.... one decent jump in revenue could change this entirely.. given the timing of the capital raising and the underwriting of it by so many, I am thinking this next quarter will be the one to show clearly when breakeven could clearly be achieved by.

There is no way I could sell out with my holding.... there would have to be some considerably positive news for investors to start piling in.  Hoping the next quarterly or news before it will show this.  I already have a low BE, even after participating in the IPO at 35c.. so not sure ho wmuch of my entitlement i will take, but I will be taking some.