The capital raising isn't an issue for me and I'm pleased it has come off so smoothly, though I would have liked to see more shares being offered to other investors. With 1412 shareholders, it would have been a fairly easy to raise the funds through a larger share purchase plan.
The one thing that hasn't been explained is the need for another director! I haven't seen or heard what any of the directors, other than Alf Baker, have done for the business. If a void was to be filled, I would have preferred to see a director with international sales and distribution experience. That is the area of the business that I see needs the most attention.
On the issue of stage two coming online soon, one of announcements clearly states that stage 2 is scheduled to be completed in early 2024. Don't get your hopes up for a massive dividend stream until that is completed. Of even more interest would be for the company to hold on to the cash for acquisitions and additional downstream product enhancements.
Either way, the share price will see a re-rating.
The capital raising isn't an issue for me and I'm pleased it has...
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