Ann: Fully Underwritten Entitlement Offer to Raise up to $1.74m, page-45

Is this creative financing at its worst, or is it a scam?
Announce an issue at 90% odd discount but no Record Date revealed. Predictably punters sell furiously at depressed SP. Scam parties buy and then prospectus is issued with Record Date after today's announcement. Pick up low cost new shares plus options. This would only make sense if you were in cahoots with Directors.

The issue is so left field, it is audacious, or else completely and utterly desperate.