details are out, page-37

possum,

you misread my question:

People float at lower value than worth to get higher levels of investors (people see higher risk and want higher reward).

they would have floated at 20c, to get an amount of money they required, which they wouldnt of gotten at higher price per share.

This company on the other hand, is minimum 20c (you are correct, as per ASX listing rules) with 1billion shares (GCN holders get 10%, 100mil).

My question is, they are doing a 200million dollar float, and yet receiving only 4mil of capital to spend, exactly 2% of their potential capital. I understand keeping more than 50% of the shares for yourself so you fully own and direct the business. but that still leaves 37% unaccounted for (10% to GCN, 2% for capital) or roughly 74million dollars they could have put into developing their company.