I have to say that I would be much happier if I saw managent putting up a most significant slice (i.e. most of it) of the $5m - they have been paying themselves ridiculous amount for years, or so it seems, so why don't they put their personal money in that they have bled out of the company? They are expecting others to invest, where is their confidence in the project and the share price appreciation that they will create?
Let me just temper this by stating that I may be wrong, and if so then shame on me for my lack of informed opinion.
Ann: RXM Equity Raising Investor Presentation, page-41
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