i hope it is not just a case of, page-25

Don't know why you guys are trying to read more into the cap raising beyond what was announced:

Use of Funds

"The funds will be used to continue the development of Termilone™ (formerly known as AP778), the company’s natural termiticide product and for working capital purposes."

Perhaps some good results are coming out, but then again the market has been getting similar results for years.

I do like BPO's potential, however the sp is currently being driven by pure speculation and not pure Termilone™.