Are you commenting on the share price, or some business news...

Are you commenting on the share price, or some business news that I've missed.

Because if it's the share price, wasn't that completely predictable from the last quarterly report?

1. They had only 6 weeks of funding left at the end of the quarter – two weeks when the quarterly was published!
2. Revenue growth was minimal, although cost reduction was pleasing, raising concerns future growth.
3. The report also pushed back cash-flow break-even to the third quarter.
4. And to top it off, they raised cash with convertible notes on terms that will carve either a massive hole out of the next capital raising or substantially increase dilution.

I sold down 50% of my holding but kept the rest because:

1. The slow revenue growth was because increasing revenue from USA was offset by a drop in rest-of-world revenue as the company pivots to the place where they seem to have gained good traction.
2. There's a slim possibility that if they can continue to control costs, and if revenue growth in USA continues, then they might just be able to avoid raising capital until the share price is at a reasonable level.
3. When... if... things start looking positive again, I expect to be able to buy back below the price prevailing when the quarterly was released.