I don't see pre using R&D rebates as as issue or a loan technically speaking. a lot of miner actually pre sold a portion of their product to access the cash flow. 1m equity raising at this level would result in another 300k shares being issued at this low level which would be quite undesirable. As the cash is coming in regardless for the rebate, why not use it to shore up the cash position.
I am not a defender of management incompetence in looking after the price ie the market cap. In fact, I see it as WP biggest mistake in neglecting the share price.
cash flow positive position is like budget surplus, it is nice to have but totally unnecessary in the greater scheme of scheme, ASX and DJIA are full of companies with massive market cap but with no perceivable ability to get within a cooee of cash flow positivity. Look at the market darling now APT and look at its market cap.
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I don't see pre using R&D rebates as as issue or a loan...
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