Ann: Underwritten Rights Issue , page-12

Yes What a complete and utter disaster!!
It was trading at 20 cents about 18 months ago
Luckily for me I bought at 4.5 cents with a small investment
I thought it was good value around the end of last year

After rising to about 8 cents and into the tax sell off period they raise cash at 2 cents.

Also they cut off the rights today and it has fallen to 1.8 cents

Wow....they could not have timed it any worse if they tried

The only explanation I can think of is they were waiting and waiting until they could wait no more for the raising