My thoughts - ugly raising; only $800k. If the directors all put in for their full entitlement that takes it to about $2 million and lets say a ball park figure of $500k-1 million from shareholders. So raising $2.5-3million. Current cash burn @ about $1.5 million a quarter so at worst they'll have 6 months of capital (assuming no growth).
Increasing sales team = more admin fees.
"The Entitlement Offer will allow OtherLevels to:
expand the direct sales team from 6 to 8 (4 UK, 3 USA, 1 Australia), along with associated sales support and professional services;"
Most likely a further CR in the future.
OLV Price at posting:
8.7¢ Sentiment: None Disclosure: Held
