>>“It is just like being prudent and having a credit card, or an...

>>“It is just like being prudent and having a credit card, or an overdraft facility for working capital..”

“working capital” aka operating expenses – reason, cash flows do not cover expenses so you live on credit hoping for better times.

>>“Interestingly the question is-- why were UXC prepared to accede so readily”

How do you know they have “acceded so readily”? – terms have not been announced, but expect the issue to be at about 20% discount to market. Also they have screwed ITE by providing advance funds at 12% - a whopping 6% over BBSW

>>“and at these low market cap levels the dilution is almost non existent”

NON EXISTANT??? I don’t think knowledgable current holders would call a 10% dilution “non existent”



Current holders are surviving on hopes and dreams, meanwhile ITE keeps burning cash faster than earning it. Expect more new issues in the future as their “projected” sales slip further and further into the future.