Ann: New Investor Presentation and Rights Issue Update, page-2

hahaha, there's a scary amount of infographics in there! so at least they haven't lost those talents.
the pivot is a polite way of saying our product wasn't fit for purpose and we were flogging a dead horse. this has been going on for years and the market, the customer receipts, everything, was telling the company this, even if they strung us along with the "imminent deal" bullshit. by finally acknowledging this, John should immediately resign.
there is a familiar lack of business and financial transparency in this presentation especially in terms of planned use of funds from this new raise. if I am going to throw any more money at this company I NEED to see a planned breakdown of where this cash is going to be spent, without ending up in another dilutitive raise in 6months time. maybe it's trimming costs, maybe it's taking some incentive based payment/salary, but it's not taking 600k p.a to knowingly work on a dud product and obfuscate the true lack of interest to shareholders.