Ann: Trading Halt , page-17

The company needed to raise the capital while there was some interest before the end of June because it has to pay the balance of the monies outstanding for Kipoi.

I agree though that it should have been done at a higher price but at this level it has to be an opportunity for everyone.

I am sure that the amount of money raised will need a shareholder meeting as it will be more than 15% of the share capital currently in issue so shareholders can ask questions. The biggest mistake Directors make is issuing too many shares and hence discounting any future share price appreciation away. The value of any share is the number of shares divided into the value of the asset. If there are too many shares then any share price appreciation over values the company relative to the value of its assets quickly and hence the share price cant get any upward traction going. The classic case is Victoria Petroleum and because so many shares were issued the share price went nowhere despite the market capitalisation increasing. The share price just treaded water