Ann: Capital Raising Placement , page-11

I think there is a few investors involved in the cap raising not happy.

They were told during the cap raising that Grieve would be up and running mid 2014 and that the pipeline sale would occur soon. After the cap raising is complete management now say Grieve is probably 2015 and the sale of the pipeline is October.

I know I wasn't impressed.

I have my doubts about the sale of the pipeline being achievable also. If it isn't sold they will be back for another cap raising I would guess.

Placement holders also received a 1 for 2 option exercisable at 25 cents in 2 years. They are probably selling the heads and seeing what happens with the options which are unlisted.