In my view, I'll not buy G88 at this stage. AUD 1.6 million isn't enough in the kitty that would make G88 more cautious in spending. Secondly, global financial situation is trending towards hard lending and therefore, it would be difficult to raise funds in the market.
Thirdly, over 36 million share shortfall will have to be taken up by Mahe Capital Pty Ltd, lead manager in current capital raising would be the first to recoup spent money by selling shares in any upcoming news because it's their business and it wouldn't like to loose money in any shape and form.
So, G88 share price would more like to stay at 1.5 c or 1.6 c before G88 completely run out funds and raise capital again.
For me, I'll not buy G88.
DYOR
G88 Price at posting:
1.5¢ Sentiment: None Disclosure: Held
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