Maybe you forgot (I doubt it) that last year the company proposed a 1M convertible note with a floor price of 0.5c !!
https://hotcopper.com.au/threads/ann-capital-raising-to-fulfil-2-0m-pipeline.3676164/
Probably that proposal wasn't well agreed by all board members, hence they did not proceed.
Yet, here we are, 1 year after, negotiating to raise at around that share price. I was naive to believe we would escape that faith, but clearly the masters of the game know alternative ways to get where they want to be.
Nice try to debunk the obvious though
Ann: Company Update - March 2019, page-9
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