Best guess at amount raised in placement., page-145

@Names little you have to read the definition of Underwritten Amount and Shortfall Shares within the relevant section of the Prospectus - without this (as you have done) can only lead to incorrect conclusions. As I have already stated, the underwritten amount is applied against the Share Shortfall, so if they raise $4m from existing shareholders, the underwriter kicks in another $4m taking it to $8m.

Now Earlyrise, Avenger and I have all confirmed this. We can do no more than this....if you are still uncertain suggest you call the company.

Thanks for confirming @Goldfish2 Baxter's terms of engagement post CR. As I suspected Jaded was throwing more red herrings into the equation and being the king of spin. I just ignore all his "market dynamics" dribble as his agenda is obvious to me. Fortunately he has me on Ignore (yet seems to reply to my posts).