Votiro - Will this become profitable?, page-74

The weak SP is becoming a bit of a vicious cycle as it makes any funding via equity extremely dilutive. What price would they need to entice shareholders when SP is 1.8c I just dont understand why companies don't always operate with a few million more cash then they need. Whether they dilute sen or votiro or both, a bigger raising any time over the last year would have been better. I think they have to dilute both Votiro holding and Sen now to see them out to break even.
Raising 5 m AUD which isn't much USD is 278m new shares on issue pre costs. I more realistic AUD figure to see them through would be 8m-9m AUD