To clarify your clarification, FB was also part of that raise at...

To clarify your clarification, FB was also part of that raise at $14:

"4F Investments Pty Limited (4F Investments), a company associated with Fred Bart, Chairman, has agreed to subscribe for a minimum of 142,858 up to 165,358 shares (A$2 – 2.3 million) in the Placement, subject to shareholder approval at a general meeting of the Company..."

My guess is that another raise is around the corner to fund the USD$9.6m commitment for additional speakers, plus pay off his loans, so he'll probably only earn the 12% p.a. for a few months. I'm assuming they'll have 30-33m SOI by they time they're bought out (or are profitable).

The oppies tells me he's confident of success, otherwise why would ya bother?