Media Thread, page-27

Interesting price action, a little bit of support on the down dip to finish flat was nice to see, will be interesting to see if it can hold.. It was looking very thin there for a bit late afternoon and has closed very thin on the Bid (900k shares).

It is very easy in hindsight to say they should have raised when they were at 11c (i.e CR at say 8/9c)..

I always forget there is a bit of new stock coming online soon from low strike oppies which should buy another quarter to sort out funding for the trials. It is alot of stock (low strike price) so may put some further pressure on the SP (news flow dependant of course)

Per annual report, the below are likely to be exercised and provide a bit of cash short term to bolster the $1.8m EOFY cash balance.

10m @ 1.89c (Nov 2022 ex) - $189k
16.59m @ 0.5c (Jan 2023) - $83k
33m @ 1c (Jan 2023) - $330k
6.6m @ 3c (Dec 2022) - $198k
10m @ 1.5c (Oct 2023) - $150k (9m of these exercised per 6/9/2022 announcement - Brian Leedman was the only holder of these)
10m @ 2c (Oct 2023) - $ 200k (9m of these exercised per 6/9/2022 announcement - Brian Leedman was the only holder of these)

Total cash raised by Jan 2023 from oppies of circa $1.15m (assuming BL exercises remaining shares)..

The last Qtly we closed at $1.8m cash (inlc $569k R&D rebate) - (after spending $1.1m - $664k on R&D)...

So we get $1.8m + 1.15m from oppies puts us at $3m (rounded up)..

Assume spend at a similar rate as the June Quarter in Sep and Dec quarters (as ASD trial is ongoing and other clinical work is ongogin we are led to believe) , we close December with circa $750k (again assuming all above oppies are exercised).

The more I write the more pissed I am that we haven't raised or locked in funding. Maybe we were close to a deal but it hasn't come and we've been left out to dry. Who knows..

Brian leaving looks more questionable given his oppies exercise, is he the one selling recently?, if so he has a lot of shares still to get through.... I don't think I've talked myself into selling my remaining half yet as I am still pro the story, just the funding over the next 6 months is problematic save for an announcement back over 10c and a raise on the back of that.

Then the qn is how much do we need to raise?

Thats my rant, sometimes just got to get it out.


For interests sake;

The below oppies are lower risk of exercise short term and therefore not likely to provide cash short term.;
m @ 3.8c (Nov 2023)
5.4m @ 2c (Nov 2024)
6.5m @ 5.9c (Nov 2024)
11m @ 9c (May 2023) = lower risk due to strike.
5m @ 8c (March 2024)
5m @ 12c (March 2024)
5m @ 16c (March 2024)

Subsequent to Annual Report,
10m @ 10c (Oct 2027) - Duthy Options
10m @ 15c (Oct 2027) - Duthy Options
10m @ 10c (Oct 2024) - Quigley & Cripps Options