What a wonderful capital raising. Only 18% is for product...

What a wonderful capital raising.

Only 18% is for product development.

The rest are for:

1. 4% burned to raise the capital
2. 15% to reduce product cost of goods (COGS) - sounds like it is for subsidising the costs to produce goods.
3. 13% for Regulatory activities and product quality assurance - in any comercially sensible organisation product quality assurance is a direct expenses of COGS. Treating QA costs separately is to obscure the true costs of producing the goods.
4. 24% for Commercial / business development - the more sales they get, they lose more money of the cost to produce the goods (COGS) is less that the money collected from the sales.
5. A Whooping 27% is for Corporate administration, management and working capital2- note 2 states this “ may be applied to additional directors' fees or executive fees, ASX and share registry fees, legal, tax and audit fees, insurance and travel costs. These geniuses are losing money on EVERY $ collected from customers and yet need to spend more money rewarding directors and executives with fees and travel junkets.

In plain langauge,

• item 2 to 3 is to subsidise the costs to produce the goods.
• Item 4 is for lunches and fine wines to win sales.
• Item 5 which is about 1/3 of the raised money is to reward directors and executives with additional fees and travel junkets.