Welfully capital raise oversubscribed, page-48

At the time, Nutrition Systems was maligned here, including by me. I and many others saw it as an outrageous dilution and possibly even a reverse takeover. Hindsight shows perhaps why it would have been a good move, almost a permanent life support shell, guaranteed ongoing profits from the existing business to sustain the new business as it built up - no further dilution required. Only now do we see how long that runway needed to be and we’re seeing exactly the same dilution now, just to get to the point of cash-flow positive.
Nutrition Systems deal would have been good for us.