what is the upside, page-22

I agree - I've thrown mine in the bin as well.

I sent in my cheque for the HGO placement too soon. I should have waited and then I couold have thrown their docs in the bin as well.

I am sure there must be someone's law that states "share price invariably always falls to the discounted price made in share offers"

In fact, I don't know why they bother offering them at a discount at all. They should just offer them at -5% so they ened up with more cash in the kitty rather than pretend that this is a significant discount and great value. After all, if the directors are issuing the shares at a certain price, then that must be the value they have placed on them, so why should the market and shareholders value them any higher than their very own valuation ?