Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-50

These placements are becoming fraught with danger imo and I can't see many companies I'm watching in the green after doing one.

Alto are probably dirtier than most because they're not only staring down the barrel of never making a profit with this and their investors will be very hesitant to enter into a cap raising with them in the future. Again, as you've said many times the buck stops with the CEO and it seems this guy is one of the worse for beating his own drum and failing to deliver on numerous occasions.