Identitii (ASX:ID8) launches $4m rights issue, page-30

Not all is lost it's not an FTX wipeout....
Let's remember we are in a bear market firstly any growth company that's unprofitable are down on average 50 percent YTD. so that's across the board.....
secondly cash is actually not as bad as it appears atm. They have over 4 M atm with the RD grant and only need about 25 percent of this takeup to see itself through end of next year. Personally they should take the 1-2 M they raise here,
If they get some runs on the board you would hope a bigger VC may come in mid late next year. I would imagine they havent yet as they need to show more traction.

I can see this trading back above 6-7 cents whether they can get above 10 again will be based on some momentum in deals and positive updates with the patent and payble.