Raise of 2.2 cancelled and insto money returned Going again now...

Raise of 2.2 cancelled and insto money returned

Going again now to raise approx 1.48 mill??

Not sure if that gets them anywhere unless they have some orders they can fill out of already manufactured stock and more orders come in greater than their predictions in quarterly .

All management should take a "pay holiday" if they are serious about this company staying alive as the outgoings are murdering it and bleeding it.

If outgoing don't decrease then it just gets $ tight sooner and same again and more dilution or this ship ends up on the rocks close to insolvent? and they won't even get their wages.

What have they got up their sleeve ? Anything?

I am bemused they went and spent $ opening facilities in yet another country regardless of possibly cheaper cost point unless they had funding in the bag or guaranteed order flow Just doesn't make sense to spend any cash before market is porven up IMO. $ would have possibly been better spent on supporting sellers with promo and advertising getting more orders on book so you could raise on back of confirmed orders going forward..

Crazy thing is large miners like and want their product but are hardly going to finance or partner the current strategy? That leaves miners in a monopoly market with others and possibly no ongoing supply of spare parts if ABV fail. Have the miners guaranteed ABV continuous forward orders and eve pay up front for spares to guarantee supply? Many miners constantly review finances of all suppliers to ensure supply and have a watch list so their business can continue.