I like your reasoning Albie. Some of my thoughts, I see this as...

I like your reasoning Albie. Some of my thoughts, I see this as a transitional capital raise. Hopefully not a survival capital raise. MEM are only raising the minimum amount of dollars while the share price is so depressed. I think that MEM management never wanted to raise capital at this price and this is why the capital raise was left it to the last moment before they possibly become unsustainable. At 9 for one they are only rewarding substantial shareholders. I think MEM expected international sales for FELIX by this time, not factoring that the overseas companies would wait for the Monash trials before utilising Felix. Things obviously have not gone to plan. I am expecting further announcements about sign Samson, with the thoroughbred breeding season commencing on the 1st of September. MEM is much more than a one track pony. Personally I will apply for a bit more than my allocation, hoping to get more at 2c a share in the capital raise. I am in too deep to abandon ship now and in my opinion, the fundamentals have not changed.