Ann: Trading Halt , page-12

First up, being able to raise cash (~$1.5m) in this market is commendable (as long as it's not with La Jolla). But why, and especially – why now?

The SP after the $30m capital equity raising would be much higher than now, that announcement must not be imminent (or likely) for Torey to have the placement now if he could wait another few weeks. Maybe he just had to have the cash this week? If there is a contract to close by a due date (Djibouti :)), reportable cash levels to maintain or immovable bills due I’d understand, despite the horrible timing. Buying the goodwill of a partner would be fine too. Maybe our sophisticated investors who forked out at 0.030 are being appeased with another feed at lower prices (they probably deserve that).

Just have to wait and see.