Hi sydneyguy
To clarify pt 7, the $1m in firm commitments is for any shortfall under the pro rata offer. So for example, if there is no money received from shareholders, they receive $1m of the shares. Any funds received from shareholders for their entitlement will reduce the amount the providers of the firm commitments will receive.
Also, not sure about your comments in pt 3, but we are required to lodge a cleansing prospectus which can be a rather confusing document in that it states we were raising 1,000 shares at 6 cents ($60), when we actually raised $400,000 under it.
Anything else please let me know!
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