Ann: Amended Offer Price - Non-Renounceable Entitlement Offer, page-4

.....considering some holders would have dumped shares based on that initial announcement it fits right into the WKT box of tricks.

No idea if it is legal or not, they have done it though....unlikely that ASIC will look at it.....

as it stands sofar -
raised about $100k @ 0.1c for SI's,
ramped stock to 0.4/0.5 (one poor soul paid 0.6c),
dump stock raised at 0.1c so that's a 500% profit,
Announce CR, get the rest of the SH to invest at 300% the amount of the SI's,
maybe the SI's will participate again to show 'support for the company' with the money they have just taken of someone else......
only winners appear to be the SI's and Directors