Still like the story and believe they can still get there.
But in my view they have deluded themselves as to capital required to get to breakeven and in the process mismanaged fundraising process and now at serious risk of a debilitating cycle of diluting wash, rinse, dry capital raisings at lower and lower prices
In November last year when they had the chance to really top up with the $15M i believe they could have got to do the job they failed to go mainstream with a broker who could have got the a big lick for the job and support with research, capital and ongoing market advice instead they have landed with one of fringe groups who in my view have no further interest than the one of fees and we wont see them for dust.
RNT Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
