Simple way to look at it. Company is raising $5m at $0.0035...

Simple way to look at it. Company is raising $5m at $0.0035 equivalent and last traded price was $0.004, on thin volume. So existing holders are getting a notional 12.5% haircut. As someone who has held into many shell deals over the years, that's a very good outcome for us. I'm quite content.

Business wise, need to do more research but the company appears to have large global clients, some but undefined revenue (pending audited financials), challenging milestone payments (first one is $30m revenue over two years). It was also spun-out of CSIRO, which guarantees nothing, commercially, but is some comfort that the business has some credibility and isn't a boardroom scam, like most RTOs.

Much happier with this acquisition than going blockchain.

But I hold a decent swag of shares and have been waiting a while, so could easily have confirmation bias. Everyone should dyor and feel free to post alternative ideas.

See you all back around June/July!