I liked that a finance deal hasn’t been finalised due to waiting for the right/best deal. Ignacio said the offers on the table now they could just accept, but they’re looking for better terms. Sounds like leverage, which is a good thing.
I think the financing is imminent, based on the presentation (posted by CEO), flagged for mid Q4, F23 (not calendar 2023, which wasn’t clarified). I asked a question on that as an online webinar listener…. they went back to the slide when asked.
The answer to management options, I did not like. The person asking the question was correct, little incentive for management. The response from the Chairman was a pompous cop out, that didn’t sit well with me.
The answer to the Capital Raising question (dilution) also smelt and was poorly managed even though they have no control over BCI selling their shares.
Regarding marketing, cost savings may have been required over the last 12 months, but not now ( how much would it cost anyway ), so I agree with the question/comment from the floor that this should be ramped up.
HFR Price at posting:
60.0¢ Sentiment: Buy Disclosure: Held
(20min delay)