Still very odd to me, its funny how the information is layed out in the same presentation:
Goes from saying ECS have available $4.6 million, before the raise, but then goes on to say $3 mill of the $4 million raised will go to PCEs, which again is going to be built one at a time, over the course of 18 months.
Again the timeline for the PCEs being built one at a time with approx costs 330k and build time of 2 months :
We could of had 6 PCEs built in Jan-Feb of next year, without even over drawing the current NAB facility. There would be no dilutive raise, there would have been more money coming in from this years crops and next years, so cash would have increased, more money coming in from PCEs as they come online. And then if they even needed the cash could re-assess next year when in all likelihood the shareprice would have been higher and so less dilution.
Just really left scratching my head, not a fan of it, they basically show in the raising presentation that we dont actually even need the cash, totally unnecessary, bell potter gets paid well, and free options, whilst existing holders lose 15% of the company, lets see how the stock price fares next week when we get 181.8 million shares come onto market all in profit above 2.2:
ECS Price at posting:
2.5¢ Sentiment: Buy Disclosure: Held
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(20min delay)