I've doen so! It is our shared responsibility to bring these people into book!
Management initially planned to raise $500,000 at $0.01 per share but has now lodged a prospectus to raise a massively diluted $2.7 million at $0.003 per share. Why is the discrepancies in fundraising strategy? Where are efforts and intention to safegurard the SHs value? We get to know from their response to ASX, it take 6 months to find a partner. Why did not plan for funding when sentiment was strong anticipating the delay and uncertainty? It is an intentional plot to depreciate the company and SHs' value.
In their reply to the ASX Aware Query, the company stated that $500,000 would be sufficient to cover the expenses necessary to secure a deal by C14.Why did management shift from raising $500,000 at 1c to an excessively dilutive $2.7 million at 0.3c? What is the intended use of these additional funds? These fund just to linger the process and keep them employed.
BIT Price at posting:
0.4¢ Sentiment: None Disclosure: Held
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