Capital rising?, page-6

There is no full transparency with the accounting report of what actual expenses are itemised in the financial reports, so assuming that they will likely be cashflow positive before the end of this financial year, is extremely optimistic.

Some hidden CAPEX expenses, could be their fitout and lease of their mentioned CBD office for example.
The same thing for marketing expenses, where they have possibly paid for signage of a stadium.

So, while one would think if they were to stop spending CAPEX, that 5GG would then be break-even in cashflow. This is not possible, if they were in fact using accounting tricks and putting commitments of contract obligations, onto their balance sheet.
Another example would be the mentioned 5G spectrum purchase. This is possibly listed on their balance sheet, with depreciation over the period that they have the license. Yet as mentioned, they have a commitment to continue paying for it, for a further 2 more years.

Not to say that they have to disclose all of this information, but there is likely a lot of these expenses and accounting tricks, just to make them look 'EBITDA breakeven'.
The truth is, these guys have been addicted to spending shareholders funds, thinking that the money is endless.
Now that the original shareholders have been diluted significantly though, maybe they will trend differently, as each capital raise they do while the sp tanks, is going to further dilute.
ie, Current total shares = 373.7Mil.
Another capital raise of $5mil @ 3c per share, will bump the total amount of shares to around 540.3Mil