1. What sort of company cap raises $500k for an internal business loan for a company it doesn’t actually own yet?
2. The company has raised and burnt $20mill of investor funds in the past 3 years. Based on the most recent 4C the company has less than $1mill in the bank to cover overheads and $250k in sales.
3. The ASX entity is clearly being used a money printing machine. If the company went to a bank it would have to return the money. How can this form of daylight robbery be repeated so often, especially consider under any other circumstances the company would and should be liquidated? The company is taking the piss when it comes to shareholders hard earned money of which they have invested in good faith.
4. Revenue has doubled in 3 years, yet the amount of outstanding shares due to cap rises and dilution is up 5-6x
5. The company claims it is working in the best interest of shareholders - yet the shareprice is down 98% from IPO and 50 - 80% from every single cap raise to date.
6. The company still needs to explain when the $7mill in revenue from the announced China contract in 2020 is expected to generate revenue. Perhaps it has also been swept under the rug like the $3mill, 3 year contract to Aussie raws distributed announced in 2019 that never showed any sales.
7. This company has had so many cap raises I have run out of fingers and startling to count of my toes.
8. How has none of the above caught the eye of ASIC and ASX regulators?
