Ann: Share Purchase Plan Cleansing Notice, page-3

It is amazing how the share price has risen from .004cents 2 weeks ago to a high of .007cents on Friday then hey bingo a capital raising at .005cents.

It was fairly predictable that a capital raising was required given they had not been able to raise anything through those that are "potential funding partners" and this statement from the December 2018 half yearly report:

"The financial statements are prepared on a going concern basis as the Group’s cash-flow forecast indicates that after meeting
all of its commitments, it will remain cash positive until September 2019. This forecast assumes that the Directors will be able​

to make share placements of $550,000 by August 2019. The Directors are confident that the above placement will be made."

They also have a $500k loan to service so that no doubt is putting the pressure on the finances.

DYOR My thoughts and ramblings only
Caveat Emptor