Ann: Trading Halt, page-23

Pretty much know what the placement ($4m) and price ($3.40) will be. Bring on the details.

What does the company need $4m for? It's not just to keep operating.
It's probably for one of a number of reasons imho.
1 Sales in UK going ballistic and inventory needed to maintain supply
2 Deal or deals signed with EU retailers
3 Deal signed with Aus telco
4 R&D into new products or development of Spacetalk (4g - waterproof) - although R&D has historically been largely achieved with company cash/profits
5 Combination of the above
6 Any other thoughts....