Their strategy over the last 12 months has proven to be disastrous. They placed all their focus and resources on a potential/opportunity. However, we do not know who has come to the rescue with this CR (yet), but it is fair to say they have sufficient funds to at the very least take a punt on this. Whoever it was wouldn't be foolish enough to go in on this, considering the outcomes of previous raises (which relied on hope and anticipation of commercialisation/JV signing). This one was very different. The investor/s would have been given assurance in some form of a material revenue stream/deal being around the corner, as the funds that were raised are not sufficient enough for long term operations/trading. I consider this raise to be a very short-term loan from the investor.
FBR Price at posting:
1.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)