The Infusions division is the only one making money. Why sell that? Of course, it is not a strategic fit with lossmaking on a grand scale. This management could not run a bath. Instead of taking up rights, perhaps kicking in to a GoFundMe campaign for a class action would realise a better return.
Based on the Prospectus and the most recent App4(c), the arithmetic does support ADAPT sales coming close to generating a break even in the next two years as costs will only increase, too. A marketing budget of less than 7% from allocated funds raised to promote ADAPT sales! According to clause 4.1(f) (pp31-32) that is between $500k to $700k. Who are they kidding?
This entitlement issue is how one hands a business over to a more canny shareholder without extracting a premium.
Ann: Admedus launches rights issue, page-43
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