It is absolute naivety of new holders, who do not realize the...

It is absolute naivety of new holders, who do not realize the true enormity of the overhang soon to be potentially released upon them. Depending on CR take up.

I have never seen such poor management of capital. And i have been here (ASX) a long time.
I first bought following the 8.5c CR, into options with a 22.5c strike. (the chart history before then saw a decline from much higher levels since it was first listed)

It is very difficult for new holders to put the picture together because i dont think the charts reflect the pre-post consolidated effect on comsec anyway. It just doesnt look right to me. I'm not sure. Someone else can check if the charts are accommodated the consolidated history. So I used Hotcopper poster price points at time of posting to roll this back.

So just jotting some price points down. Just approximately. Since that 8.5c CR approx 12 months ago, the sp declined to 4.5c, then bridging loan, down to 3c, consolidated 15-1 to 45-60c, then declined to 30 something, then announced the 10-1 + 2-1 ops at 2.9c, which then the sp declined to 6c in expectation of the supply that was coming. Then yesterdays rabbits possibly bought in with a misconception of the pre forma capital structure.? i'm not sure how they could value it at 75c then with 10.3m + (103m + 20mops), close to 97m MC FD. When it was going to essentially be the same cash flow negative business with only a couple of million net cash, after the CR.

After the consolidation was announced, i posted that i had exited as i knew that some sort of CR would likley follow to kill the old ops off.

Yesterdays ann, while good in principal, IMO does not resolve the inbalance of cost to market the product, to revenue received in the early growth which the company is at. I would infer, it has not reached critical mass of adoption where the expenses to market the product, can be surpassed by the revenues received. etc. Which means cash flow negative still likely, and not only can new holders look at the massive overhang of new scrip about to wash through the market, but ask themselves how long the cash will last for, until the geniuses who manage this capital, decide to do it all over again.

One reason to run for the hills, is the capital destruction to previous shareholders, and with nothing changed, what do future holders anticipate is the nature of their leaders.

Not investment advice. Nor would i buy a ticket on the titanic, no matter how good the music was being played.