Just a point to ponder over - OSX is forced to do a capital raise (and that too a measly $2.6m million) with a non-renounceable entitlement offer (with 1 free quoted option exercisable at A$0.225 each and expiring on the date that is 3 years from the date of issue (Quoted Option) for every 1 new Share subscribed for under the Entitlement Offer.) This betrays management's lack of confidence in their ability to raise capital. If their products were 'world leading' as they claim, few of the surgeons who by now would have had a good look at their products would have come forward and put $2.6 million in one go!! The fact that they are not able to get industry leaders / medical professionals to commit any money is a red flag for me.
As for me, 1 new share for every 4 existing shares on record day at $0.085 is not much to commit. But I just don't see the point in backing a company which so far has been all talk and very little to show in terms of growth in revenue. $1.62 million in revenue for a year is piddly - its silly to see them claim a 52% increase in revenue for CY 2022 over CY 2021 when the base is so low - for a company which has been in existence since 2003.
Very happy to be wrong here!
OSX Price at posting:
8.7¢ Sentiment: Hold Disclosure: Held
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