Hi there asb83 At that point in time we were not contemplating a...

Hi there asb83

At that point in time we were not contemplating a capital raising - however the receipt of a significant purchase order was received which gave us no other option given the required delivery window to meet the purchase order. When you consider our revenue for the 6 months to June 2017 was $2.0m....and we have purchase orders of $2.0m for delivery in October and November, you can see how the capital requirement was increased.

Returning to the webinar, I did say that we will always consider ways to fund the business, including non-dilutive avenues. I understand the frustration with another raising, and all shareholders not being given the opportunity to participate, but given the time constraints we were short of options.

If this has dented trust in me, then I need to rebuild that obviously. However we did what we thought at the time was in the best interests of the company at that point in time.

It is a shame that the negativity around the capital raising has detracted from the significant revenue growth that we announced concurrently, but like everything in our business, we take on the feedback.

Cheers
Ryan