Ann: IronClad to raise $11 million Fully Underwri, page-6

re: Ann: IronClad to raise $11 million Fully ... hey guys,

ok, now that it's finally released I am able to breathe a sigh of relief. Well done getting 100% underwriten - that's a great effort. When speaking to I.S. they were hoping for 75% U.W. so to get 100% is great news.

Shame about the changes to the CR structure though. Not from the point of view of less shares issued, or the options, but from the point of view that management released their intentions way back before Christmas of a 1:2 with renouncable rights, but it changed. I let rip at I.S. for moving the goal posts after previously releasing a set of intentions. I told them that the only reason IFE is trading so low is because of this type of issue. production dates, ports, OPEX numbers, etc just move around without anything being set in concrete for investors to work off. Sometimes feels a bit too ad-hoc for mine.

anyway, CR is out of the way, a big step forward IMO, and a positive sign for the company.

now an update on progress would be useful, just to verify in no uncertain terms that progress is on schedule and that their delaying in sourcing these funds has not hampered their progress.

Time to get the marketing machine into action, IMO.

cheers
Split