Incorrect, Hugh joined on 27/3/23 and the SP on that day it...

Incorrect, Hugh joined on 27/3/23 and the SP on that day it closed at 4c. The qtr had already closed but was not released till later that month and then by that date it had gone down to mid 3's. There is nothing Hugh could have done to change those numbers! Matter of fact there is barely anything he could have done within his tenure as it generally takes about 6 to 9 months to build relationships and win contracts. Maybe some of the fruits that he laid to bare came after he left .. who knows.. By the time the June qtrly had come out it was evident that a CR was coming so of course the SP was going to struggle and it was a shocking time for specs. The way the CR was undertaken was horrendous and as such that is why the discount was so much and why i felt I had no choice but to participate as it was just WAY undervalued.

Regardless there were a small group of us that followed this company very closely and were decent sized holders who have exitted which what I feel are very valid reasons. So with a new quality broker leading this round, chances are there is a whole new group of investors. best of luck by=ut I am 95% sure that the next quarterly will not live up to expectation in terms of cashflow because of the prepayment that had been made. Maybe they were delivered in the same quarter.. not sure. If more decent sales are made then June may be close to CF+, but I am not willing to take that risk. In hindsight I may have got an extra 5 - 7% on what I sold for... but was not willing to take that risk.

Lets see if the new CEO can deliver.. and if he doesn't by this qtr, then will all the people on here who took a shot at Hugh for not delivering in the ~6 months that he was there take the same aim at Bojan who would have been there by there for nearly the same time?

Should also mention, you NEVER dilute more than what you have to. Why would they need so much cash if they were on the cusp of breakeven? They had 1.7m in teh bank and around 700k of drawn debt, lets keep it simple and just say they had 1m in the bank. They raised 2.5 mil as part of the initial placement and now allowing 1.5m in the SPP. That is 4m of cash. That implies to me that there will be more cash burn for at least 1 and most likely 2 qtrs. Maybe they will do further enhancements on the plant?