Perhaps your right James but the extra cash may come in handy funding or advancing other ventures associated with stage 2.
The happy balance may be in the middle......reduce pro-rata the amount of shares issued per holder but increase the $1M accepting the over subscription so everyone gets a sensible slice of the pie.
Issuing everyone $500 worth at 20% discount to market prices for a benefit of $100 seems pointless.
I sense Billy is onto something.
AGM Questions, page-54
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