Its unfortunate that some more transparency has not occurred from management, which sends investors off looking for answers and speculating on what is really going on.
It seems to me the company is burning through cash, and whilst revenues grow slowly, its not enough to stop the fall in EPS and the losses are compounding, hence the need to dilute 12.5% of the company this time.
I don't know how long at the current burn rate that money raised will last, I think 18 months is ambitious IMO. They need a partner, and I note from comments in some articles that intent to chase US funds.
The question is, where does the falling SP stop and at what price is this a risk/reward play now?
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