Ann: Quarterly Activities and Cashflow Report , page-26

Many thanks GMT and i wish you luck as well.

One of things learnt from the crisis was if sellers get a scent that a company requires capital and is vulnerable...they will sell the stock below right/SPP issue price reducing any incentive to participate - Big banks learnt it the hard way.

If CTO is unable to raise capital or raise minimal capital - i think there is further downside.

But the reason i got out of this was quality of management. How questionable is the timing or SPP announcement - before the quarterly and in a downward trending market. Pricing it at no significant discount to market price where the company market credibility is already vry shaky.

Will give this a look in Only and Only if there is a change in management.