All valid points. However not unusual. Capital raises are continually diluting shareholder value unnecessarily.Similarly, there are so many caveats about the raise that it is difficult to know how much to actually invest. I much prefer rights issues. I think saying you can invest $30 000 and then scaling back to say $10 000 is insulting.It certainly appears that the Company didn't do research, and the comments that they didn't do research makes sense.It shows there CFO probably doesn't know much about shares - and yes I agree that ASIC should do something - but would tend to think believing ASIC would actually do anything as overly optimistic. Sorry, but ASIC is useless.
The Worst Capital Raising Ever, page-27
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