Well the company is not going to say what the actual purpose is,...

Well the company is not going to say what the actual purpose is, would they? It is all diplomatic, PR stuff.

BRN is spending (burning) approximately 12 million dollars in cash, including employee salaries that is equivalent to the top companies generating billions of $$$ in revenue in Australia.

Surely they have to come up with an excuse to raise funds so they can keep paying the management, board and employees.

''On going commercialisation'' means nothing, when there has not been much commercialisation to begin with.

To be something considered ''on going'' you have to sell something first, but $48,000 revenue tells us a different story.

Sure, they will use a miniscule amount of this CR for commercialisation, that is not coming so far.

Imagine if BRN does not manage to do any commercialisation over the next 12 months, does this mean all these money that they raised with the CR would be still intact?

If yes, then the money was for commercialisation.

If no, then they used that money for something else, like paying the salaries. Common sense.

PS: The last few Capital Raises was also for commercialisation, what happened?