With all due respect, let's get one thing really clear here.
It's not fact that the company should have been able to make an acquisition with $550k.
Even though AZK only paid $400k for acquiring Brainchip, they also had only 200M shares on issue at the time of the acquisition, provided 303.6M shares plus performance shares to the vendors and have realised cash from selling existing resource assets. So focusing on the $400k as the acquisition consideration is taking way too narrow a view, IMO.
For balance, it's also not fact that the company needs more than $550k to make an acquisition.
However, based on a CR being announced, it is more likely than not that the additional funding is required to make an acquisition and fund working capital etc related to the deal. Because why would the company raise capital pre-deal if it didn't need to? It wouldn't, unless you take the view that PW just wants to fund his mates for another 12 months. That may be the case, but he'll never raise capital again in his life if that's the case so it seems unlikely.
DUO Price at posting:
0.2¢ Sentiment: Buy Disclosure: Held
