resolution 4 at agm

There seems to be a (justified) outpouring of anger at the proposal to grant options at no cost to Directors of the Company at the AGM. All very well, but what about Resolution 4 - Ratification of Allotment of Shares - 15 July 2009. This allotment of 30 million shares was made on 15 July 2009 at 1.5c. Thus it raised $450,000. The stated reason for the funds raised from the allotment was "for general working capital requirements".
As at 30 June 2009, the Company had Cash and cash equivalents of $1,712,106 ($1,681,442 cash at bank and $30,664 in deposits on call). Yet, a fortnight later, the Board purportedly saw an urgent need for an additional $450,000. Why?
The allotees were "sophisticated investors and clients of Claymore Capital Pty Ltd, Sydney (AFSL:261076) "Very" sophisticated in my opinion
At the closing price of BUY of 9.4c on Friday 30 October 2009, the value of the 30 million shares was $2,82 million. That's a profit of $2.37 million dollars on the investment.