The way I see it, investors in the $1m placement should have been aware of the half-yearly results. Otherwise, I can imagine they would sue the directors for raising money at $0.28 and then releasing 'going concern' from auditors. That means investors were content with the results and were looking for the long-term upside. I can also see the stock jumping back to $0.40 on good news in the next few months.
GLTAH
