I am genuinely bemused by this company's governance. How late are they taking this to the wire?
This reeks of either a company on the verge of announcing a major partnership or other commercial arrangement that insures its cash liquidity to remain an ongoing concern given its present cash flow shortcomings (hence it can be so cocky), or reckless corporate governance leaving a debt or capital raising this late in the day.
Yes the business is showing very promising growth, but after going cap in hand with 16 million shares at 53c in August 2020, unless they've secured some commercial arrangement, to go to the capital markets this late in the day for a capital or debt raise cap in hand again is just stupid. It will be a rush job.
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