I was at the Perth roadshow today and had to walk out. After an...

I was at the Perth roadshow today and had to walk out. After an hour and half we only heard all the things I already understood about FBR. It was promoted as a 1 hour session and Mike spent 90 minutes selling to the hopefully already converted. The general presentation and few answers provided were in same as NAF reported at the top of this post.

What I wanted to hear was:-
1. If we raised $17M in Feb19, why are we asking for $8.5M in December?
2. How long will $8.5M keep the company afloat and what are the plans for funding beyond that?

There are lots of red-flags with FBR from my point of view.
1. Making loans to employees to help with tax obligations due to employee share grants
2. The enourmous salary of the Pivacs and the first strike of the last renumeration report
3. Loyalty leave for employees with more than 10 years service
4. Too much dilution of shareholder equity through performance and rights issues.

The idea is great. But it will take a very large sum to get it making money out of making walls.
That I need to ask the two questions above and the red-flags below tell me it doesn't have the management to get it to fruition. Good management for getting it this far, but the wrong mangement to get it to the end.

Sorry guys, I won't be putting any more of my money behind this otherwise great idea.