What an exercise this has been in how not to do a capital raise....

What an exercise this has been in how not to do a capital raise. Rasing at 16c within weeks of the highest volume day in the history of the company at an intra day range of 18.5-23.0c was always going to squeeze out investors.

Correct me if I am wrong but under 7.1A there is only a minimum issue price of 75% the 15day VWAP which was 0.176. No maximum. From a chartist point 0.18 needed to hold and should have been the CR price.

If the full year today includes track performing at the lower range of expectations, message volume up with no corresponding increase in NPAT, blame on all of the one off payments and the comparison to MBE, MKB SMA etc as the highlight slide, the 13.5 low is about to be tested.

Like the sophisticated investors with their current 12.5% paper loss and 2 yr 27c options, I still have a great long term view for CM8. Short term there may be some more pain to come if in fact this capital was not raised to solidify any material partnerships....

Gla