Factual. I worked it out properly, you guessed - as per your post.
The placement was for 171,074,680 shares, not 85m.
If you don't care how many shares are on issue, to me that's an indication that you don't care about profitability, because as far as most shareholders are concerned profitability and shares on issue, used to calculate EPS (earnings per share) is an essential guide to long term valuation.
Ann: IOT Group completes $11.975M capital raising-IOT.AX, page-138
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