they only have capacity under listing rule 7.1a to place...

they only have capacity under listing rule 7.1a to place 25,099,423 shares (this is why 'strikerx' is so ignorant in saying 'it is only $700k' - they went for the max already and probably would have done more if they were allowed to). you can refer to the announcement on 30 Nov, page 4 under 6i.

they will need shareholder permission to refresh their placement capacity, or wait 12 months to place shares again (former is more likely). that's why i think they should do a 1:1 rights issue and get it all over and done with if they are so confident.

This business is similiar to the business TMP sold - they book the revenues straight away but incur 50% of the costs (this is the guidance given by the company) straight away and don't get the funds for at least 90 days (if the customer doesn't find any ad fraud, which is another story altogether) so they need lots of cash to grow.