IMO share price is getting hammered ready for the capital raise. AJX only had US$1.2M in cash, and still burning through it on an operational level, the line of credit facility is only for an initial US$1.1M and clearly there are concerns that the business will need a CR...
Time will tell, I was of the opinion there were some green shoots here, gross margins 40% and revenue consolidating to a base around US$10M / A$14M.
With a now A$21M market cap, not very appealing revenue multiples, but the company has to prove it can be profitable and time and time again history shows it cannot....
Eclipsys - game changer ???, page-7
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