Hi AndrewYes I do agree that the first time you hear of a...

Hi Andrew
Yes I do agree that the first time you hear of a capital raise generally speaking is with the 4C, BUT

What you are not accounting for is that some individuals running companies prefer to raise funds internally using a SPP.
These individuals are generally running growing small cap companies, they are financially prudent, they have loyal shareholders long term and they wish to reward their loyalty by offering first choice to the shareholders before going to market to raise funds.
These directors have enormous real $ dollars invested and are averse to dilution, unnecessarily.
James has already said indirectly that he is dilution averse.

I agree that cash burn will increase, but with that sales and revenue will most likely compensate for additional cost. (Approvals dependent)
We may raise funds, towards the year end, but this will be a small raising if at all.

I am now in 3 companies that have directors with this highly (conservative) prudent attitude towards dilution and it shows in their attitude, the registry and the way they do things. I really like this, I look for this when investing longer term in companies, it works for me.
I think James and his grandfather are no different. A rare breed of director. Win Win
RED