DroneShield management have delivered an absolute master class in suggestive public messaging leading into a raise. Plenty of support from Shaws and the small cap media circuit for a beautiful sucker punch. Volume over the last few days driven largely by these announcements with no dollars in them is going to leave a lot of dumb money hurting.

Raising $70m with $56m cash in the bank is clever and they say it's to build up inventory for their pipeline but there is $7.5m earmarked here for investment into AI that deserves a high degree of suspicion especially when combined with $10m working capital and offer costs.

Oleg has almost no skin in the game and no reason not to keep thrashing shareholders like this. Well played sir.