Dubber.Dubber.Do., page-3108

I like the company and it appears they have some robust growth ahead if they can capitalise on their current relationships and sectoral tailwinds, however I think management have some questions to answer in relation to the most recent capital raise and the timing of it. To me, on the surface, it just seems like a way which management have handed themselves more cheap shares which has come at the expense of greater dilution for existing holders due to the low raise price. As we can see by today's action, a lot of those placement shares are being flipped by 'sophisticated and institutional' investors for a quick buck and existing shareholders weren't even given the opportunity to buy in. As it says in the announcement, management are taking 1,700,000 'subject to investor approval'. Well I'd like the following questions answered prior to granting approval:

1) Why was the capital raise undertaken at the point in time where shares were trading at pretty much the lowest 10 day VWAP price?
2) In addition to the above point, why were funds required to be raised at this time given we already have ~$15m in the bank?
3) Can you provide any greater clarity on what the funds will be used for besides 'accelerate the company's growth', 'position the company for further growth', 'enable the company to evaluate potential acquisition opportunities.'
4) Could a raise for an acquisition not be done after terms of the acquisition had been agreed?
5) Wouldn't it have been more wise to undertake the raise post announcement of the Cisco price list as this would have likely supported a higher share price and therefore caused less dilution?

Happy to hear their responses in relation to the above and assess accordingly. However from afar, looks like a management grab for cheap shares at a price low point with no clear purpose for a raise. Shareholders suffering as a result with more dilution and more shares being turned over at low prices.