I would not read too much into Thorney rejecting the motion at the AGM. They were involved in the past two raises which were severely dilutionary to retail shareholders. At the moment they hold the cards being the largest shareholder and holding the bulk of the convertible note interests outstanding. They will control the terms of the raise which might be quite dilutionary again. My view is that is retail investors do not have strong conviction in this company and the capacity to purchase more along the way it's a challenging stock to hold as you risk being diluted to the point that even if it eventually ten bags you will not make that much on your shares for the risk and uncertainty.
