Ann: Update - proposed issue of securities - RFX, page-10

Yes @davidmorr,

Interesting and there could be multiple reasons, but does look sloppy. Couple of other thoughts apart from the ones already raised on this forum.

Firstly, they needed to raise the funds quickly to initiate upgrades and resourcing to deliver within their stated time-frame, so plan A was raise through CR and then if this didn't go according to plan, time taken for Plan B. Mind you CR has extended 3 times from 8 June.

Secondly, management thought the 2000 battery contract was enough to get shareholders excited about tipping in to deliver on this project and others potentially being signed. They may have overestimated shareholders mood. Who knows.

Finally, I just think they need to money now, to deliver on their commitments sooner rather than later, so go with CR, hoping shareholders would see the future opportunity.

I'm sure they will sign a couple biggies in the future, ideally very soon. I'm sure they are working extremely hard at delivering on these opportunities, but need shareholder support in the first instance.

Just my humble opinion only. Clearly too much time on my hands.

Cheers