Bloody hell. They are spending cash like it's going out of fashion. I understand the that certain requirements will inevitably require funds, but 4.5m outflow?!
Management can't keep kicking the can down the road. The market doesn't have ANY appetite to keep funding companies like this. We are potentially heading into a global recession. In the last year there has been several small cash raises which are absolutely smashing the share price. They would have been better off doing one significant raise but instead they feel almost once a quarter at the moment.
Where does this end? Presumably another cap raising in the next few weeks that will, once again, destroy market confidence. Tough hold this one.
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