$4.4m raised in total, not $7.6m., page-11

$7.6m is wishful thinking

the "first" capital raising took them over 4 weeks to piece together.. if it was subscribed twice over they would have announced so at the time..

fact is the announcement made no mention at all of oversubscription and the scaling back of shares to be issued.. it said they had commitments for $3.4m.. not commitments for $7.6 that are being scaled back..

assuming for a minute it was oversubscribed, the extra $1m is far more realistic than more than double..


congrats to the company for raising the money.. the dilution sucks for shareholders but at least the lights are on.. only roadblock now are overdue creditors (will come to light this week) and flowrates (over to JS)