For those that missed it or are struggling to read between the lines:
The company cancels the rights issue, which eligible existing shareholders took $9.3m worth of at $0.40 (Ann - April 3rd)
They go and raise $4.86m to Institutional and Sophisticated Investors 4 days (Ann April 7th) later at $0.15. Eligible shareholders get no look in at the discounted price unless they are an s708 investor.
Further dilution inbound IF the JV can raise revenue, on top of the 17.75m shares issued for ineffectively nothing, as a lost deposit in the B&P debacle.
The latest raise is a slap in the face to current investors. Let us out, stop locking our money up. Let it trade if people are willing to buy at $0.15. Enough is enough.
WHA Price at posting:
48.7¢ Sentiment: Sell Disclosure: Held
