Thanks and agree with the points you raise. You are lucky it has only been 12 months for you. This would be at least the third time the company has mucked around with the documentation for the same instrument.
As shareholders there should be information rights on the terms of any strategic partnership and / or any other instruments that are used for funding (debt, equity, hybrids). I wonder if any new money has been raised over the past 6 months?
I struggle to believe there are current commitments for $5m+. If this was true the best pathway would be an IPO. I wonder if they are dressing up old information.
Can we get the financials? I hope new money is being used to fund growth, rather than clean up outstanding bills or claims.
How are the management determining their equity? They should also suffer the same dilution as everyone else.
Regardless management need to be replaced. The update from one of the recent Zooms was pathetic. The CFO, Sandra Hooker was a stunned mullet and just repeated the investor update from last year.
