It's nice to see the oversubscription (I went in for well over...

It's nice to see the oversubscription (I went in for well over my allocation, as a measly 1 for 7 ratio in no way helps reduce your average buy in price) but its an outcome of a very dilutive raise that for me was too heavily discounted with too many carrots (eg; 2 sets of options?!?) and in no way should have been underwritten (wasted fee's there).
All shareholders are underwater at the current share price and many clearly see a pathway to recoup their losses (as per the positive outcome of the RO) but I think the company accepted poor advice regarding the Cap raise pricing (and under writing agreement) and could have achieved the same amount of funds raised at a price of 0.016 on half the options (all listed). An outcome which would have been better for all shareholders.

It will be interesting to see exactly how much was raised from the RO. I note that the RO agreement terms only allowed for a pool of $500k of oversubscriptions to be allocated (so my understanding is that underwriters 'could' still get allocated some shares even though existing shareholders wanted them and paid for them in the RO - via oversubscriptions). Happy to be corrected on that last point.