What a crock, a continued dismal story of self interest and "theft" from unsuspecting shareholders. This time they're using the vagaries of COVID-19 as blame for current failings and gross incompetence. A public company since 2005, never a profit in 15 years and again chasing shareholder funds to re-pay debt and provide working capital. What's this - the 6th or 7th capital raising on top of an estimated $60M+ in revenue in that time, and still no new markets, increased revenue or profits. This latest capital raising will lift the number of shares to around 1 billion I think. With a share price at 0.4c currently, who would expect to ever get a dividend from this car crash. With accrued losses of an estimated $65M+, this seems like another attempt to throw some more shareholder funds up in the air and hope something falls on a gold mine somewhere, anywhere - so that the major shareholders can take advantage of the tax losses!!
If you invest in this latest capital raising, may heaven help you. Only chance for any profits for the shareholders can only come from small uneducated market spikes and day trading shares as they rise and fall by 0.1-0.2c, woo hoo!!
From Industry incumbent to industry idiot. Even changes of major shareholding, a new CEO and a new Board has done nothing to put any fuel in the tank - the culture deeply ingrained in this dog continues unabated. The massive opportunity that once existed has passed them by with many competitors now light years in front and pulling further away on a daily basis. They had their chance, ego & greed took over common sense, they got rid of nearly everyone who could've made a difference and they still beg for more money - because they've almost got it right this time, just another few dollars will do it!!
This dog needs the green dream.
As always, DYOR.
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