There is nothing wrong with a CR and it is one of the ways a...

There is nothing wrong with a CR and it is one of the ways a penny stock can raise money for their operations. However, there is a time and place when a CR might become necessary, and it is my opinion that there was no need for a CR now, simply because the company is already very cashed up for clinical trials and this CR has ended the momentum temporarily on a bull run that was quite obvious for anyone doing simple TA. 3 CR in one year, is simply not acceptable without any results beforehand. Yes the money from this CR will be used for prostate cancer and many other avenues, but the fact is simply that no other avenues will be explored or can be explored without a successful HER2 breast cancer clinical trial first. If the HER2 breast cancer clinical trial was successful, then it is a no brainer that a CR would be done at a much higher SP, quite above 20c I believe. It is simply beneficial for all existing shareholders for shares to be issued from a CR above 20c than at 8.5c. Dilution is inevitable in pennies, but unnecessary dilution can always be avoided by better timed CRs. I don't think there is anyone on this forum that can say doing a CR now was much better as compared to doing a CR in December or in 2021 when the SP is expected to be much higher, simply because CRs at a higher SP is always more beneficial. This is just my opinion and has no real factual basis, but I suspect this CR was done simply because there is huge interest in IBX but not enough shares available for sale, if simple retail investors can see a valuation of 20c or even 50c in the near future, then sophisticated investors see that as well. I believe enough buying interest was built up that the company saw a great chance to shore up its cash reserves for the future and provided a CR at 8.5c as an easy avenue of increasing its cash reserves. If the rumours are true and the CR was oversubscribed by 20 million, than that just confirms that the deal was just a bit too good. The company gets to decide how to run things, so I won't complain about CRs, because that will achieve nothing, the company shored up its cash reserves and its onto 2021 now. As long as clinical trials are well managed and also deliver successful results, we can all look forward to IBX becoming one of the biggest biotechs on the asx, even if they have 3 CRs every year, SP will keep rising as long as they keep delivering results. Simple investing strategy, successful product- keep investing, unsuccessful product- sell out and move on, everything else is just noise.