Ann: CFO Appointed to Board and Notice of Convers, page-9

re: Ann: CFO Appointed to Board and Notice of... I just dont understand why they didnt offer to raise funds through existing shareholders. Surely between the 13,500 of us we can raise $10m to $20m over 2 years to keep this company away from these type of vermin?

No BS floor price or similar..just a decent discount to the market price. If they did this from the start and (and not raise with Socius and Bergen) the share price would be much higher now. They would not have raised as much $$$ but the share on issue would have been less.
Plus, they would have had a better chance of options being in the money..this way, there is no chance.
the two hedge funds are making a kiling with the price being in the cents of a dollar.