Ann: Trading Halt, page-54

I know, RAllen, that you have done your homework here, as you always have.

At least the last raising gave a chance for all shareholders to participate on a pro rata basis. If this raising is only to sophisticated investors (aka Perth sharks), then it is a disaster for other holders. If we take your $3.2 million at 2c scenario as gospel, it puts a serious lid on the share price.

Who wins ? Those who are placed the shares below market. The broker who picks up 7% of the proceeds for making a few phone calls. Management who can still pay themselves. The little Aussie battler believer ? Shafted again.