Ann: Algae.Tec Rights Issue Notice of Shortfall, page-2

Hmm, so only 11% of the offering subscribed for?

Actually more than I thought they'd get. It'll be interesting to see the quarterly cashflow report for September to see how much it costs them to raise what little capital they did manage to get.

Recently I've seen a company struggle to raise much cash through a SPP and they ended up spending nearly half what the raised just in capital raising costs!