Do yourself a favour atcatc and read the upcoming Appendix 3B...

Do yourself a favour atcatc and read the upcoming Appendix 3B that will be released very shortly for the issue of shares for this 'equity raising'.

You will scroll to the second page and see how many shares are on issue, quite a few, then you will see two pages of unlisted options..... two pages! Lets give this management team a few more months and there will be another equity raising, with more hidden options, 230million options currently, I wonder how many they can issue?

That makes a total market capitalisation of over $300 million for this company, which is yet to produce much more revenue than a car wash...

There is absolutely no upside left for a company at this valuation, everything has a price and this one is priced well to perfection already.

And the real kicker - as the company keeps doing equity raisings it increases the market capitalisation of the company which makes it even more expensive (depending on the share price of course)

And i haven't even mentioned the risk of doing business in China, with China....