Putting aside managements very poor long term track record and lets just look at this for a short term trade.....
My concerns (and I believe that of the market) are that the SPP will be a failure as 12cents is too high a price.
So what comes next.... whatever form of capital raising it is it will come at a discount to the current market price to make it appealing. Everybody knows this, therefore no insto of any significance is going to go long on market now - they just sit back and wait for the massive discount they will get on a placement.
With managements poor track record, they can justify this massive discount even more so.
Seriously just steer clear of this until -
They start producting that reflects there market cap
or
Until the massive discounted placement has been done
IMO any other approach and you're more of a mug punter betting against the odds.
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