Honestly speaking, I have always had a soft spot for LBT...

Honestly speaking, I have always had a soft spot for LBT innovations but no way am I intending to purchase for several reasons.

First, the financial position is really bad. It appears that the company is putting all its hopes for sales to come through. Brent outlined some of the sales challenges, many of which sits with the potential customers and are outside of the company's control. So if sales don't come through....?

Second, the structural issues with the board, management and corporate strategy remain, irrespective of the response to this capital raise. Rebecca's response to my question around the structural underperformance was too vague and non-committal. As the chair (acknowledging the problems predate her appointment), the buck still stops with her. In the absence of any concrete actions to alleviate those concerns, I can only assume that the problems would continue.

Third, remuneration structure. I agree that her response again to my questions came across as somewhat throwing Brent under the bus but again, it did not go far enough. It is no open secret that executive remuneration against the backdrop of continual underperformance has been a thorny is sue for shareholders. As opposed to be upfront and state that remuneration would be reviewed to ensure alignment with shareholders (e.g. pain is equally shared), she was somewhat defending the, in my view, indefensible.

Fourth, directors' confidence in the company and their capabilities to represent shareholders' interests. In the webinar, it was mentioned that the board believes that the inflection point is near, current problems are short term and can be overcome after this capital raise, and that they remain confident in the outlook. If they are so confident, why haven't they undertake on market purchase in the past? Also, were they asleep on the wheel to let the problems build up to where LBT finds itself? If they are not doing what they should be doing, for example, providing oversight and ensuring accountability from management), no offence, they should take the honourable action and step down.

Again, these are just random thoughts from a frustrated ex shareholder and is not meant to down ramp the company.