Ann: $1 Million Placement Completed, page-3

The chairman has had to input funds to keep the company afloat for maybe another six months? This is unusual.
Was there no one else interested? This isnt a good look surely. I doubt he wanted to do this as if there was promise it wouldnt look good him not allowing others to buy in now. That would be pretty wrong to do if there was anything the market didnt know of thats due. There should at least be considerably more involved and a proper capital raise. Something Ive not seen offered to investors for a while.
Surely if the project showed promise there would be many other sources of funds available then out of the chairmans own pocket?
I cant help but feel this is perhaps a last ditch effort in hope to keep the company afloat for another six months and hope something pops up Otherwise everyone might lose their jobs. If both projects are unable to move due to impinging factors. Whats left to represent value in the company?