I'm not against cap raises per se, but doing one now at this...

I'm not against cap raises per se, but doing one now at this level wouldn't be a great sign for investors and I feel they would need to discount heavily to get a substantial uptake.

Too right! With you on that.

They got $7m in the kitty and burn $2.5m last quarter. If a CR now is the best they could do you would know the whole thing has unraveled but it doesn't look like a dump either. 2.1m shares have brought us from $0.32 to $0.25 with 1.6m of those being the panic today.

The last 2A had 377m shares on issue. Perennial were still buying last month from Baker McKenzie. Maybe just a tree shake given how jittery we all are. The S&P 200 dropped 3% today for heavens sake.