Ann: Expanded $5.8m Rights Issue, page-25

If you had a raights issue partly underwritten at 0.1c you wouldn't cancel that to raise at 0.06c ... except if you were the one underwriting it.
A number of posters here thought, great, I can get some shares 10% cheaper than the raise. Those guys should be able sue to the directors for pulling the isue after the close. They should be forced to live up to their commitment otherwise what does it mean to underwrite something if you can pull out when demand is low? It means nothing.
Now those that bought at 0.9 are going to sell and likely crash this thing below 0.6c. If the directors don't show some balls, they'll be answereing questions from the receivers rather than dodging shareholder enquiries.