Acrux has decimated all existing investors (those who bought...

Acrux has decimated all existing investors (those who bought before capital raise)
By issuing approximately 99,957,908 additional fully paid ordinary shares everyone has been seriously diluted and suffering huge losses.
This quarterly report highlights again that Acrux are unable to generate anything like the revenue they need to stay in business.
It is amazing that Emla Prilocaine 2.5% and Lidocaine 2.5% cream on market since 21 December 2022 with reported annual sales of US37.9m; and Dapsone gel 5% on market since 03 April 2024 with reported annual sales of US$15m can combined together only generate quarterly revenue of AU$144,000!
Think about that!
5 FDA approved competing products presents a serious challenge which probably means the other distributors are doing a much better job than Padagis and TruPharma.
By my calculations Acrux will need around AU$2m per quarter to keep the lights on and I cannot see how they are going to do this.
In the FY2024 annual report Kotsanis got paid a salary of $480,143 and an extra short term incentive of $35,068 which seems ridiculous when assessed against the financial results. There is clearly an imbalance between shareholder and management that needs to be addressed in my opinion.