Ann: WHA Completes Placement and Enters into JV with SPC, page-14

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.