Interest payable at 15-20%???!!!That's lender of last resort...

Interest payable at 15-20%???!!!

That's lender of last resort stuff. Expansion at that cost of funds is anything but good business practice. How about stabilising first the cash bleed from the current areas of operation- growing them at least bringing the company cash flow positive first before embarking on growth (at any cost) in new jurisdictions. Biting off more than it can chew. The investment case looks nothing like what was pitched in the IPO prospectus. Whole idea was to lock up market share thereby building volume/cost synergies in its targeted market. That has not happened. The business plan seems to be made up as they go. Raising increasing amounts of capital at lower equity prices only engenders a growth at any cost mentality that has so far seen shareholder wealth destroyed with no optics going forward for change. It's time for a new CEO that has an appreciation for what a business is about other than his remuneration. The BoD need to put a line under this.