Agreed. If the facts change, then the thesis changes.
Nobody can say with $5m in cash, min $8m due in the next 9 months, and annual costs dropped to $12m would necessitate a cap raise today for opex.
If the cap raise is for m&a activity, which I've definitely outlined previously as an understandable justification, I won't be as fussed.
Either way, premature to be getting worked up without any of the facts in front of us.
Ann: Pause in Trading, page-13
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