Ann: Investor Presentation, page-7

I didnt see it coming either. I do worry that Andreas Kroell is developing a habit of looking to shareholders, rather than from selling to customers, when he wants to spend capital. Regardless of what it does to the share price.

Perhaps part of the problem is a lack of skin in the game. The CEO has just 1% of the stock, circa $240k at current mkt cap. Thats less than his annual earnings of $326k (in 2022).

Normally a company states a clear purpose for funds from a Cap Raise. I couldn't find one in the placement docs that were shared today..? We're left guessing.

I hope that its more strategic than simply shoring up the operational bank balance, which was looking a bit vulnerable in the last quarterly at just $2.4mil iirc. It probably is the US drinking water certification play, I suppose... but it'd be nice to be told explicitly.