Read the ASX 4C query response, so basically they call it a success that they have been able to Capital Raise for the past 20 years.I am just glad I have not been an investor in this company for 20 years!
"Since the Company’s incorporation more than 20 years ago, it has been the practice of the various boards of the Company to raise cash for the Company’s ongoing operations by the issue of shares, options and convertible notes. This is the practice of the current directors of the Company who intend to continue to do this until one of the projects becomes revenue producing.
The directors are always assessing potential ways of raising cash and currently are in a number of discussions with various parties the details of which cannot be released due to their sensitive commercial nature. While there is no guarantee of success, the directors would look to the Company’s 20-year track record of success in this type of activity."
Add to My Watchlist
What is My Watchlist?