We were told that there was some money coming through for R & D but we were not told how much but I seem to think that an estimated time was around now. Qtr3 was always going to be the time when cash was starting to get a little thin and the Company needs (or needed to) start looking for funds. Of course a Capital Raising is not out of the question although with the share price where it sits it will need to be less than the $0.006 benchmark we have come to expect, and also needs to carry some long dated options ($0.002 + 1.2, 2018, free options). Perhaps they could consider a rights issue to all shareholders as those who are prepared to buy on market at these levels may consider taking up the rights issue instead. This of course would get the funds into the company rather than some other disgruntled shareholder's pocket. If it were underwritten it would even be better. One has to wonder also if the party that has been coming to the party over the last capital raisings will put on the party hats and break out the streamers, the fairy bread and the pink lemonade again?
MPJ Price at posting:
0.3¢ Sentiment: None Disclosure: Held
