I agree. I often toss up whether the debt format that Vonex has...

I agree. I often toss up whether the debt format that Vonex has created is better or worse than continued dilution through CR's to acquire and expand. Either that or expand and integrate more slowly to retain cash? Im not sure.

I guess the disadvantage at this stage is the rate being paid to the debt facility.

However the advantages are:
- less dilution as no CR needed (hopefully)
- cash in hand for further acquisitions
- debt being paid off in manageable 500k chunks per quarter.

Interested to hear others thoughts around this as this has to be the only reason hesitant investors may not enter a position just yet?

I think the future depends a lot on the next quarterly and next acquisition to cause a significant re-rate.

It obviously didn't deter Gomersall from significantly increasing his holding at these prices., which gives investors confidence.

Goodluck