They have let down the market in terms of how much cash-flow they were supposed to have and gave no indication prior when the first downgrade occurred. Thus they need to have a couple of strong quarters.
On a interesting note is the level of director participation in taking up entitlements and underwriting.
1.6m out of 2..03m. The management team has backed this rights issue and must have been priced attractively to them. Terry Cuthbertson is director for a long time in MNF (which i followed at 10c didn't invest ) and MNW. He gives me a little faith in terms of tech vision. Hopefully this replicates MNF run
ICU Price at posting:
5.7¢ Sentiment: Hold Disclosure: Held
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