Ann: Outstanding Shareholder Support for Share Purchase Plan, page-47

I was really interested in this stock until I saw this announcement. While it was at the boards discretion, increasing the raise so significantly was insane for the following reasons:

• S708 investors would have participated thinking that the raise was going to be tight because the SPP was so small, that most investors would not arbitrage as they would not be guaranteed the sam allocation
• Many who put in for such a large amount would have expected scale backs
• To me this will be a license for management to burn cash with a grow at "ANY" cost mentalitry simply because they have the cash

I would expect many s707 investors to immediately sell their holdings as they know that when teh SPP shares come out, many existing holders may want to sell as they were not expecting a full allocation.

Then if the price drifts below 30c, then some sellers will panic and just sell.

I am holding back now to see how the SP settles for about a week post the shares release.