"I would think realistically any share issue needs to be at a premium to 3 cents (the last cap raising price)"
You are not thinking realistically. What makes you believe that they could raise money at more than double the current share price when they are desperate for cash? They would struggle to raise it at 1c
"Hopefully kieran has a plan which will not result in another disappointment for holders and/or that ominious 2nd strike for his team mates."
Kieran couldn't put together a plan to finance a fruit stand in my view
They won't get shareholders to back them(not sensible ones anyway) so La Jolla might get a call
Ann: Appendix 4C - quarterly , page-11
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