"the company does not need cash yet so they do not need to act"... that is a very dangerous approach and i hope management are not following it!! Being proactive rather than reactive is key here... why wait until you need cash to raise it? that just leaves the door open for desperation should they not be able to secure funds/funding... COLD FACT is OBJ does not have enough cash to last 6 - 8 months with their additional wellfully/reduit team remunerations, rent on multiple premises, e-commerce web development, product development, social media campaigns, prototype costs, R&D costs, production costs, 3PL costs (and that is just on the Reduit side) we are going it alone with BG as well so funds will be required there as well.. 2.2 mil is nowhere near enough.. time for a reality check.. 2.2mil would barely get us by without Reduit.. unless P&G royalties start increasing in multiples of 3 - 4x current per quarter from here on in the hand is going to go out very soon be that from SH's or private/personal funding..
Pman i take it you have seen their plan to invest themselves In black and white by the way you are talking? Or did they just tell you they had a plan at the last AGM? imvho you are placing a lot of assumptions here and talking like its set in stone already..
OBJ Price at posting:
1.6¢ Sentiment: Hold Disclosure: Held
(20min delay)