Ann: Investor Presentation, page-24

One would imagine it is a raising for an acquisition.

Yes they have some cash but not enough for a large acquisition and to keep a decent cash balance. I am unsure but I believe qtr reports still have to be filed so hopefully we should have the answer to this piece of the story today, happy to be corrected on this though.

One feels that with the 2 presos last month they thought they were close to getting the deal over the line but it has taken longer to get to this stage then intended.

All speculation but would rather this than a raise for the sake of a raise, its a pity that someone has probably known and has ground the price down.