Delusional, and over complicating capital structure with so many warrants and options is just an impediment to share price performance.
At current share price, any US IPO is on life support in my opinion. And if it goes ahead it will be severely dilutive for current investors.
A better option would be to have a deeply discounted rights issue (say a 1 for 1 at 15c) whereby all current investors could participate should they wish to avoid the dilution, and have underwritten by key investors identified by management. If US investors can't underwrite then they should be ignored. US investors are NOT a priority over current investors.
A positive also would be the underwriter insisting on improved corporate governance and management immediately contributing n the last placement at 30c which they still haven't done!
Incoming cash from trial announced last year will do little now to support the share price as the cash burn looks too high. They need to do something.
Delusional, and over complicating capital structure with so many...
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Last
13.5¢ |
Change
-0.015(10.0%) |
Mkt cap ! $39.71M | |||
| Open | High | Low | Value | Volume |
| 15.5¢ | 17.5¢ | 13.5¢ | $209.1K | 1.362M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 23000 | 13.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 14.5¢ | 30600 | 2 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| CDX (ASX) Chart |