They've been in biz for 10+ years so this isnt a new startup....

They've been in biz for 10+ years so this isnt a new startup. The listing reports show financials from 2018+ and show they never made a profit from then (not sure on earlier)

They listed (with $2M owing to the ATO in unpaid PAYG/Super but got an interest free pay back period and it's still unclear if that's been repaid?) and burned through the cash at around $1M a month, done a couple of smaller raises already (Dec 2021) but NOW they have the plan!

The previous plan (which was formulated for the listing over a long period) didn't work. But suddenly it's all clear!?

With 160+ people now and $7M more cash and 3 new directors they now have the vision and focus to be cash flow neutral by Q3 FY 2023.

Why they didnt enact this plan earlier not sure?

They dont seem to be reducing costs but looking more to add revenue. Sure makes sense. but... they need to 3X their revenue to break even.

That's not very easy to do in a short period of time unless you have a game that's already in development and ready to launch, they havent stated thats the case just a lot of games that publishers/partners are giving them feedback on.

Or they need a really big contract (it'd need to be in the tune of $1M a month x 6+ months to get them out of the hole) and those are tough to come by. or 2x$500k contracts etc. They were at GDC in March and no company saving contracts from that. They are off to Gamescomm in end of Aug to try and get some. What's different in Aug that wasnt the case in March? Besides them being more desperate for cash.

I've personally lost a lot of money assuming they had a plan from the start. So now I'd rather help others avoid the same fate as me. If they had a plan they would have already enacted it. 3 new directors isnt the missing puzzle piece here.