Ann: Quarterly Activities Report and Appendix 5B, page-44

They didn't need to do the capital raise and nuke the share price. This is obvious and was a bad move.

That said what's done is done. The company needs to move forward.

Accountability is important though and sometimes change is seen as a positive by the market.

So it's time for:
- Whoever championed the capital raise to go (on reduced spending promised, the $40M they had would have been adequate).
- Whoever mismanaged and miscalculated spending to go (refer June vs Sept estimated quarters of funding available).

I believe it is time for the Chairman to go, to reinvigorate the Board
He gets paid a lot to keep an eye on this and do a couple of meetings a month (from memory his pay has gone from $80k to $180k pa - insane).
Out of all of them on the briefing he was the one that seemed like dead wood and offered little.
He may have served a purpose when this was a much smaller and earlier stage company years ago, but appears out of his depth now.