$55 million is a significant amount of money, especially after...

$55 million is a significant amount of money, especially after raising nearly $20 million only a year or so ago. At 0.004c per share this is a huge discount for those that invested in this current capital raising (CR). Very good if you were invited. For already holding shareholders we have been diluted by over 50% together with suffering huge huge loses from the prices we paid for our shares from the last CR's at 2.1cps after being 6.8cps only a month or so before. Forget about the incentive of the 2023/4 options to boot......they are worthless. As in the previous capital raisings, the underwriters, who received 5% for their risk, did quite well. Who were they again?

Now with this current CR, I wonder whether certain people, possibly the same again, have put their hands up to underwrite this $55 million raise at unbelievably cheap prices....with what is forecast at the end of the year and ensuring years predicted by our Board of Directors. If 5% is offered to the underwriter(s) this equates to approx $2.75 million. One can buy a lot of 0.004cps from this bagful of money. It has been acknowledged that our company's Chairman and CEO have taken up their full entitlements. Good to know they are doing so. Pity the rest of us didn't know what was coming down the track to allow us to position ourselves better. Can you see the history of these two guys now.

No one has answered my inquiry of last week as to what happened to the last $20 million raised. Broken promises. Failures. Lack of management and direction. But it has seeming gone and we now need this new CR. So perhaps someone could then enlighten us to whether there is an Underwriters fee attached to this CR and who are putting their hands up for all the risk they are taking! Could this be a continued and well run beneficial strategy for and by BOD to once again build up their massive share of the company while ordinary shareholders pay the price.