I agree Marv, Choices which debt to repay etc. make sense given...

I agree Marv,

Choices which debt to repay etc. make sense given the circumstances, however I would have preferred they had paid it down via cashflow rather than a capital raise. The market was severely discounting this stock because of uncertainty around Track and fears of excess debt. But any decent punter with a slide rule could figure out that Track is stabilizing and the debt can easily be paid from cashflows, I think over 12-24 months the patient investors would have been handsomely rewarded, without the dilution of this raise.

Having said all this I can see why they did the capital raise, it should expel the debt concerns from the market and having a cornerstone institutional investor on board may be the trigger to get other instos interested, let's see how it plays out..

Either was still a compelling story as continued growth in Q&A, reduction in debt and amortization all fall to the bottom line.

Regards,

Will.

Disclosure: I also own a sh!ttonne of CM8.