Ann: Memphasys completes $3m capital raise, page-27

Looks like opportunistic management, this was not a shareholder friendly deal, the best thing would have been a CR, looks like management wanted to not have the dilution, the deal from what I can see principally benefits only them and is detrimental to shareholders. Certainly stopped me from investing and I certainly would have invested if it was a CR as it should have been. $3 million is a pretty small amount to raise given the prize and could have been raised from existing shareholders IMO, left me thinking that management may not be trusted to act in other shareholders interests.