the slide of the SP has been painful but im also very surprised...

the slide of the SP has been painful but im also very surprised at the slide particularly in terms of the Financials. At 1H2023 accounts, they had $28Mil in Cash and postive cash flow for the period of $3Mil. Hardly going broke to me. I dont think the ASX likes the fact its based in China.

I think the Cap Raise was desperation as well, especially after they announced their plans to get a loan for the factory but obviously that fell threw (my speculation, no confirmation of this).
They are going to be cashed up now and if they continue to be profitable and cash flow positive, returning value to shareholders through a on market buyback at these low levels would be highly accretive to the SP and make shareholders (like myself) much happier with their investments. Plus it will stop the ship sinking any further.