Wow, what a spectacular failure from a shareholder point of...

Wow, what a spectacular failure from a shareholder point of view.
It's so bad that you could convince me that the very design of this small company ASX structure was to fleece investors for cash from the beginning.

Who wins?
Directors, Employees and Contractors - Wages/Salaries/Invoices get paid cash
Brokers - IPO fees & brokerage fees from retail investors who trade the share.
ASX - Listing fees

Who pays for the above.
The investor - IPO's and then regular capital raises, and brokerage.

I imagine that Directors and the most motivated to keep the show rolling, as they have the most to lose.
The key ingredients required for directors to keep the show rolling are spin and hopium.
The company doesn't have to actually be successful for directors to keep getting paid, it just has to look like it's about to be successful.

A capital raise has to be on the way soon. In fact, I would be super surprised if there wasn't one before 6 weeks.
We know that off the 30 June 2023 quarterly that debt has skyrocketed to about 6M up from 3.4M
Unused loan facilities are only 1.3M while VR1 keeps burning 3M a quarter.
Equity is getting very thin if we take out the intangibles. Annual report should be interesting

If I'm right, then there should be some spin and hopium announcements coming very soon.
Read these with discretion.