I totally agree but when sitting on the table to set a share price for the recapitalisation don't you think 5, 7 or 10 cents would be better than 1.5 cents? The greater the share price the smaller the dilution. You can negotiate a higher share price when you are seen to have already lost most of your capital like GIC did when it paid 48 cents in the last capital raising, but how can you negotiate a higher share price if you paid 1.5 cents?
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