However on 8th September 2011, GCN announced that P1 did "not intend to raise any further capital prior to its proposed listing on the ASX being finalised." The word 'further' in the statement is a bit puzzling, because the announcement does not talk about any raising of capital - it refers only to the free issue of P1 shares.
It may refer to that now legendary white knight - the cornerstone investor. It is relevant to note that in September 2011, on thebusinessshow.tv, Peter Stafford (CEO of P1) says:
a. that P1 had no need to raise any capital
b. that nevertheless they had accepted 3 - 5 million from a cornerstone investor.
GCN Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
