Ann: Q1 2023 Appendix 4C and quarterly activities report, page-3

Yeah, but they are not planning to liquidate tomorrow, so buying shares to access that cash is not possible.

The money raised will be spent. The question is whether they will have enough cash to continue operations through the downturn and make it to the other side. If they do, there should be a significant SP turnaround.

It will be interesting to see the results of the rights offer. Existing owners of the shares now have the right to recapitalise the company. Those who participate in the offer may do very well. Not much HC chatter, so no real insight here on what might happen.

It should be remembered that the shortfall is up for grabs. My investment isn't worth much now but I now believe I can probably get quite a few extra shares without risk of scale back.