pnomeeting group, page-17

Well todays announcement was disappointing to say the least and i feel JP has truely let down shareholders this time.

I understand it is difficult to raise funds in the current market, i understand that CPSS are nervous, i understand we need this money for Thermalife and the company to have any chance. There have been that many placements with CPSS was it not possible to find an alternate broker to take the raising on?? Was it not possible to source a cornerstone investor?? In hindsight, the options was their biggest chance ... They are simply not attracting the right crowd.

To change the pricing of the raising to .5 cents being close to 30% less than what was being offered previously has effecively ensured the issue of a further 130mil shares to 'make up' for the lost cash if the RI were to be done at .7 cents. Unacceptable and creates a lower floor.

101, i have expressed to Rebel and the PNO meeting group earlier tonight that they have my support for the purposes of holding a meeting. There are several issues i see in doing so and especially getting someone (if not two people) on the board however, i believe (given the end of August is here as well) we need to play our cards and protect whatever interests we have left.

If all the shares and options in the placement get approved (which i want to state i have no objections to as the company plain and simply needs the funds) there will be 1.490 billion shares on issue with 395million options.... enough said.

Vic2013 i would like to think that you would welcome any shareholder including myself to the PNO Meeting as the group will need every single share they can muster.... This wont be done without a fight IMO.

My sentiment has changed to a Buy (from hold) at .5 cents for a simple reason that CPSS are happy with .5 cents. I would imagine they will be offloading in the .6 or .7 cents region unless they are privy to other info.


In the meantime, i will be steering clear from the threads and discussing this side of PNO in private with the PNO meeting, i encourage others to do the same !!

GL All :)