Ann: Becoming a substantial holder, page-6

Agree with you Bob, I must be missing something as well.

Can't see where the 2 cents figure comes from. Happy to be corrected.

Annexure 1 indicates the price paid was 2.5 cents.

To say the issue was a complete failure is in my view is a complete over negative way to look at it.

a) The company has successfully raised $15m, which it can use to further develop develop its products and promote sales.

b) It is the first time that an underwriter has backed a company issue.

c) As to whether the underwriter makes a profit or loss out of the issue is fairly irrelevant.