I can’t see the company taking a placement until late in the the...

I can’t see the company taking a placement until late in the the next quarter, possibly early 2019. The expected cash outflows for this quarter should leave the compnay with about GPB2.778 million at the end of Sept. That’s $4.87 million Australian dollars.

If the directors went for a raising now I’d take that as a very bad sign because they don’t need the money, it’s not a good time and they won’t be looking after shareholder’s interests. The good thing here is that directors and management own 34.4% of the company so have plenty of skin in the game and will be well aware that raisings at higher prices mean less dilution.

If I see a stupid pattern of capital raisings before money is needed and at low prices or any hint of director’s selling I’ll be right out the door because that is what rotten fish smells of. Esh