Ann: Rights Issue, page-32

From the official Prospectus...

(b) Dilution
Shareholders who do not take up their Entitlement will have their holding in the Company diluted. Details of dilution are set out in section 5.6 above.

Typically... either put in more money or your existing holding will continue to be worth less.

(d) Future capital needs and additional funding
The Company recorded a net loss of $2,390,117 and a net outflow from operating activities of $2,008,000 for the half year ending 31 December 2021. As at 31 December 2021, it had approximately $4,551,000 cash on hand before the proceeds from this Offer.

This paragraph sums it all up nicely......are they giving really, really accurate "forward guidance" here - or are they just being their usual sloppy selves?? Seems like the newbies (Mahe) are off to a good start.

It's just another bloody circus and, to repeat, I will not surprised one bit if the company is out of business in a year's time. The only good thing about that is we won't have to keep on paying Maria the thick end of $700k a year.

I rest my case!!