And they expect to be able to raise capital at 35c per share. I...

And they expect to be able to raise capital at 35c per share. I don't see that there will be many shareholders willing to give the company more money.

The watch that they 'believe to be a worlds first' does not look to be unique. I can easily find other similar watches designed for children to what they have described in their offer document.

How much money have they spent developing this watch and will it get a return? seems like a high risk at the moment that it may or may not pay off.

They just paid down all debt, surely would be better to take on some debt rather than raise more capital.