Hi @jcmleng

I agree with your general sentiment, however would not be the first time a company's management have suggested they don't need to raise but then taken an "opportunity" when it arises. I actually though Jenni was generally very open, but careful on her language around a raise, ie. "We don't want to", or "would really like to avoid". Either way I came away from that meeting without your level of confidence.

There's a good summary here from Claude Walker that may have been posted already:

https://arichlife.com.au/why-whispir-asx-wsp-will-probably-raise-capital-again/

I also thought the announcement out a few weeks ago had that dangerous promotional smell about it. Call me paranoid but if I'd just closed the books on the quarter and knew I hadn't yet got costs where they need to be, I'd be tempted to try and pump the share price prior to releasing a quarterly that showed maybe only 1 or so quarters of cash left. Best they can do to provide some headroom if a raise is needed.

All is to say, while I have recently bought a small parcel of shares and am confident about the long term, I'm still more sceptical that you about the requirement to raise, but would plan to participate in an SPP if it came along. The forager purchase moves the needle more positively too.

Here's hoping you are right and in a year I'll be kicking myself for not having taken a larger position! Cheers

Good sign that forager have taken another 2m shares on market at an average price of 32c recently. With forager buying in and having good knowledge of the business and feel for cash requirements I feel more secure that any capital raising will not be so large or low as to derail the long term thesis here. Dents it for sure, however forager are obviously not too afraid, I've wondered if they might be involved in a raising somehow if it happens.