Made a careful decision not to take up my rights. My buy point...

Made a careful decision not to take up my rights. My buy point is now 12/13c on a technical basis to average down.
The quarterly will tell the story about whether they have managed to staunch the cash bleed or not. They have not announced any measures to stop the bleeding so I assume it will be another nasty number leaving about 3 maybe 4 quarters of funds. Remember when they get to 2 quarters left the ASX starts to ask questions about ongoing viability -so another cap raise probably. It seems highly unlikely they will get the 53m shortfall shares away at 19c to raise another $10m
Hope I am wrong
GLTAH