Ann: Redflow raise $4.9 million from Entitlement Offer, page-12

"Hopefully, they will get the message that they actually need to start earning some real money" – equally hopefully, the message isn't so harsh that the company can't execute on its pipeline of projects. The risk is that sending the message starves the company of the capital it might need to act on the message.

In my view, if the company is too risky to participate in a capital raising, it's too risky to hold as an investment. Even as a gamble you're making the odds longer by abstaining. This raising gave holders every opportunity to churn part of their position on the market to fund participation in the CR, injecting cash into the company without increasing their commitment.