Ann: Pro rata rights issue, page-20

Obviously not the news we all wanted as no one likes a CR.

However, the $4m options are now off the table, so there was going to be dilution regardless and pleasingly the funds from the rights issue are going directly into ANMA payments, upgrades and inventory which should translate to future efficiencies and profits.

Love how everyone on here gloats when a CR occurs.

I much prefer a company that is active and achieving revenue with a low bank balance if it means future growth. If you like companies that stockpile their cash reserves (after initial large CRs) and slowly deplete them over each quarter because they are not building momentum then invest in BUB or WHA.

You have to spend money to make money - looking forward to future earning guidance as I have no doubt it will justify the CR.

Still think consolidation should happen, particularly with the register above 1 billion shares but maybe not the worst thing in the world that it is being deferred for a while.

Let's see what happens, this company is making moves and progress which require upfront cash - if they can convert that into future earnings (which I believe they will) then the short term pain is necessary.