Ann: Successful Completion of $6m Placement & Launch of $2m SPP, page-129

Couldn't agree more
Is the board saying they couldn't raise funds at 3.6 cents without the 3 year options??

Doesn't install much confidence does it.
The capital raising is a no brainer for those sophs who are lucky enough to get a seat at the table

Long term and retail investors will likely get little out of this raising, even withthe SPP

400 investors seeking $5000 worth of the deal will see out the SPP at $2mill.
The SPP is likely to be heavily oversubscribed

For those into the new deal clear incentive is to sell the shares and keep the free 3 year options

This is likely to result in further downward pressure on the share price

There will be no announcements for possibly up to 6 months to trigger any tech excitement in this stock