Ann: Redflow Quarterly Update and Appendix 4C, page-27

I am frustrated that Redflow raised capital under another entitlement offer because it seems there were several cost saving initiatives that should have been taken internally before seeking shareholder funds. i.e. reducing discretionary spend, maintaining headcounts. In the recent annual report to shareholders it mentions "Redflow has achieved a reduction in payroll costs of nearly $2.0 million for FY2020".

Why did it take a pandemic for the board to accelerate the development of the Gen3 battery? Given the potential upside, why was this not a higher priority before-hand.

Redflow is frustrating...