I think market confidence takes a pretty big hit if coy feels it needs to do a CR of over 20% of its capital @ 20% + discount to 20-day VWAP. A CR, when none or only a small one was expected. It certainly was not expected in the foreseeable future according to Canaccord analyst report in Sept. I will wait for ASIC to get the bottom of that one.
They'll need to instill more investor confidence in their transparency before this takes off again.
Ann: AirXpanders Completes Private Placement, page-4
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