What this capital raise is doing is highlighting the lack of...

What this capital raise is doing is highlighting the lack of familiarity with the underlying numbers. Fair enough, the company has no control to a large extent with delays in procurement etc, but what it can do is closely monitoring the expected cash inflows and outflows, and to formulate appropriate responses in a prudent and timely manner.

To do this at the very last day of quarterly reporting (accompanied by a disappointing 4C) is just really bad optics wise. How the hell did we ever find ourselves in the current predicament of going cap in hand trying to raise monies for working capital purposes and strengthening the balance sheet at a steep discount to the current share price that is already in a persistent downward trend? Bad timing is an understatement.

Shows either how bad their forecasting is or how poorly the board is performing its role (providing appropriate oversight, asking the necessary but uncomfortable questions of management and, more importantly, holding management accountable).

I also previously raised, in my view, legit concerns with Rebecca Wilson taking over as LBT's chair on the basis that its dire state would take up too much of her time and attention away from Alcidion which is not doing well. Bingo???

The chair, managing director and CFO really need to take a hard look at themselves and be honest on whether or not they are still up the job.

I have been a long term supporter of Alcidion but nothing of this situation inspires confidence in me.