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Correct, this is a tiny cap raise designed specifically for...

  1. 1,259 Posts.
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    Correct, this is a tiny cap raise designed specifically for working capital purposes only. Reading between the lines, this SPP was designed to cover the admin/brokerage costs for the next round of funding in June ($30m), and this is the reason I chose not to participate this first time around. Suspect that the second $30m raise will be at a much lower price, possibly more like 2c and IMO existing holders will again be invited to participate.

    Thus my thinking is that there’ll be plenty of time and a much better price to hand over my hard earned cash to this mob, particularly given the hundreds of millions of shares due to be issued which will in the short term cause widespread dilution on a per current share basis.

    GLTA
 
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