Ann: Extension of Closing Date of Entitlement Offer, page-6

This is just pure speculation, and maybe hope, but I hope there's some insight.

Before I do that, I'll remind people about Sirtex. Sirtex indeed was going great..until it stopped growing, failed 2 pivotal RCTs, and then the CEO was dismissed and charged for insider trading. The Board then put it in play and then that's when it's value was realised. It was on the ropes.

In OSL's case someone decided to launch an attack dropping the price from 5 cents to 3. I watched those days. They were just selling straight into the vanishing buy side, like a kamikaze. Completely irrational selling. It was on the ropes.

The most important part of this saga is they called in Kidder and told the market the company was on the table. That should be a signal to the market that there is value to be realised...except the market (and some posters here) didn;t listen or care (and still don't). The value of this company is not 10 or 20 million dollars. That's ridiculous.

My guesses are:
1. They appointed KW and gave them a price above which they might deal. I have posted what I think that price is.
2. KW said you need to show bidders you can walk away so raise a years money anyway you can. CR happens at massive discount.
3. KW called various possible suitors. Told suitors that if you wait for the CR to complete they'll have another billion shares and another billion options at 3cents to deal with. And potentially more sales, FDA plan, increased share price (!), etc etc
4. Suitors say they'll wait thanks
5. Firm commitments for 5 million means CR will succeed. This is a fact. They have now raised 50% and the other 50% will be raised because current shareholders basically have no choice.
6. Suitors decide to look much harder now but now need some time to get their ducks in line. No firm offer to declare to market yet, but increasing interest and dealmaking
7. Delay the close of the CR probably to give serious suitors some time. I mean, everyone had a month, and yes Easter and Anzac Day are hardly unpredictable. And in any case, they have 50% pre-commitment, so who cares about extending the deadline.

Could be a dream sequence. Or a Netflix series I watched.

It might turn out that anyone who bought this stock at 1 cent is going to be very very happy.

I'm annoyed because I haven't bought at 1 cent, just committed to buy at 1 cent.