Need to know how money will be raised in the short term.
Because a CR now seems inevitable I wondered how the company would go about it. Had a quick look at investing 101: renounceable versus non renounceable versus placement
“A renounceable entitlement offer—originally called a ‘rights issue’—is the fairest way to raise capital because it’s pro rata; shareholders are entitled to acquire new shares in proportion to their existing holding. And because it’s renounceable, shareholders can usually sell their entitlement on market”
“A non-renounceable offer is the same as a renounceable offer, except that shareholders cannot sell their entitlements on market. It’s a ‘use it or lose it’ principle and much less fair system. If you’re unable to take up your entitlement, or don’t have the cash available, your shareholding will be diluted.”
And “be wary of companies making placements, particularly when there’s no share purchase plan attached. Whilst you may be unaware that your money is being reduced, that’s exactly what’s happening when companies issue shares to certain investors and not others.”
Unless we can access that $20 million, or are paid fairly by Q, we'll need cash
