Ann: Change in Substantial Shareholding from AEF, page-5

I don’t know that you can say this will go ‘way’ lower. Assuming SP of 25 cents this company would be valued at roughly 100 million. Assuming 100 million cash after the raise, which will be 30-40 million cash after FY24 and then the cost reduction strategy has been implemented, BVS SHOULD be at least NPAT neutral or NPAT positive.

Again, this comes back to trusting management, which we all know is the biggest issue. Libby has taken this position as what she likely knew would be and is a poisoned chalice. HOPEFULLY all the bad news is accounted for now and this is the last nail in the coffin towards a reset of the business. I think a market cap of 100 million is a joke for BVS. This company should have always stayed at around 500+ but the last few years have just been an absolute shit show. The doom for all shareholders is even if market cap gets back to 500 million we’re all still screwed from shareholder dilution. I think current SP is fine for anyone willing to take a set and forget punt.