allocation of shares and options, page-29

Pokerface,
I am sorry that my flippant remark didn’t put a smile on your face, but then again you choose Pokerface as your “nom de plume” so I guess you don’t give too much away with your facial expressions, anyway I was just trying to answer a question in a light hearted manner so as to make some of us laugh God knows we need a good laugh with this one.
Of all of my investments TNG was the one with the most promise and yet has delivered nothing but a loss while my other stocks have delivered a nice return on my investments.
The thing I don’t understand is that TNG were looking to make $3.5M out of the SPP but didn’t quite make it so in the announcement today they say
“Any shares not subscribed for by eligible shareholders under the SPP will comprise the shortfall and may be offered to institutional and/or sophisticated investors as a separate placement, at the discretion of the Directors.
TNG’s Managing Director, Mr Paul Burton, said the Company had had preliminary discussions from investors for the shortfall, and Directors will decide whether to proceed to place this shortfall over the coming weeks.” may be offered at the discretion of the Directors? Directors will decide whether to proceed to place this shortfall? What didn’t they need $3.5M maybe the 1.2M will be enough, but I doubt it, I think that they have less than 2M in hand are waiting for the Governments R&D refund of 3M and the 1.2M from the SPP so at best have 6.2M to play with and if they have creditors to pay it maybe not enough to get them through, who is going to take up the shortfall with the SP where it is?
As you say “time will tell” so lets’ hope for all our sakes that the SS TNG makes it to Port before she sinks, I am still holding and praying ;)