$250 raising, page-2

The small raising of 250 shares for $50 was to release the stock in the raising just prior.

from the asx release dated 15/10/10

"3.2 Objectives
The Company is seeking to raise only a nominal amount of $50 under this
Prospectus and, accordingly, the purpose of this Prospectus is not to raise
capital.
The primary purpose of this Prospectus is to remove any trading restrictions that
may have attached to the Shares issued by the Company prior to the Closing
Date."

Professional and sophisticated investors are a class of investors that are either fundies (professionals) or have liquid net assets of certain level (sophisticated). It allows a company to raise quickly without producing a full prospectus which can be costly and time consuming.

It means for sophisticated/professional investor that you get about an hours notice to put your hand up for stock. In some cases you know the company in others you get a tap on the shoulder with little background other than what you can scrounge in a few minutes. The discount often reflects the risk.

As an example I took stock in PGA recently plus we had to subscribe for stock in the rights issue that was future dated. The stock was effectively escrowed for a period of time which means that there was no way out if the stock tanked. Subsequently the price has collapsed which later required a highly dilutive bail out package.

Recently KAR, MRM and RES have been offered, I took up 2 but not the third but only received about 1000 shares which is pathetic but that is how it goes sometimes.