Some thoughts as my opinion.Bad Quarterly.Look at how close VR1...

Some thoughts as my opinion.

Bad Quarterly.

Look at how close VR1 are to maxing their loans.
Another quarter like this and VR1 is maxed.
This means topping up the operational cashflow losses will run into big trouble.

Given they are cashflow negative, and approaching their loan max, I predict that they will have to do a capital raise within 7 weeks. They are seriously running out of money. Remember, their cash in the bank is being largely offset with accumulating debt/liabilities, so they can't just spent it freely. The Half Yearly Balance Sheet coming out in a few weeks will show just how much debt there is at Dec 2022.

In connection with this need, it's my opinion that VR1 management will likely do as many announcements as possible to create some excitement to hopefully raise the SP to help make the CR successful.
Remember the CR is extremely important to them. If a business is maxxed on debt and cashflow negative, then pretty much the only way to keep the lights on long term, is to keep fleecing investors, long term, via CR's until the company can actually make a profit.
So to them, your money pays their wage to put it bluntly.

I also think that VR1 are the master of fluffy announcements.
Create some excitement and hope, and then if nothing materialises, just say nothing and move on to the next hype story. (Like Space Travel)
What ever happened to the Webex excitement. Fizzled.
What ever happened to the VR Movie production support solution. Fizzled.