This to me shows that the capital raise was not needed. If we...

This to me shows that the capital raise was not needed. If we are building one after the other, with roughly a 2 month build and $330k cost. Also the fact that they pay themselves off within the year.



Even starting now, we would have more than half (5) completed by December, with under $2 mill spent, when we have a $2mill debt facility with NAB that isnt even drawn down, along with $2.5 mill cash in bank. Also this doesnt take into account the cash we will have coming in from current crops and offtakes adding to our cash reserves, given we are cash flow positive, and growing more cannabis than we have ever grown before , and also not taking into the account the extra revenue each PCE will bring in and come online , for example PCE 1 revenue could be online and fund PCE 6-7 build cost. Just doesnt make any sense why this cap raise was needed. The debt facility was not even eaten into so still on the table, how about utilising that before diluting shareholders that have been holding for years?!

Im truly in the camp that this capital raise at a discount was not needed and very surprised by it. ECS will be getting diluted by around 15%, basically at last traded price of 2.5cents, we were valued at 27.66 million, after this cap raise keeping the same market cap of 27.66 million our trading price would be 2.1 cents . Its going to be harder to get the price moving up with all this over hang now, millions of shares will be in profit at 2.25c and above. With our average daily volume being 1.5 million shares traded, how hard is it going to be to churn through the 181.8 million new shares that are added to the market (our total traded shares for the last 6 months was only 193 million) especially seeing that all the new shares will be on healthy profits anywhere from 2.25 so wont mind selling? We could hardly move even without these extra shares were issued.

Just bad decision making imo, wasnt needed, might get some more interest and coverage onto the stock though, Im still very bullish the company, Im just in the camp that basically we have been taxed 15% of the percentage ownership of the company , each share is worth less of the company now, and its been done unnecessarily.