Ann: iWebGate Completes Landmark Telstra Arrangement, page-44

I don't think it is very clear they need a raising. Yes cash is being used but as the TLS announcement States incomes come in this month. if they were desperate for a raise it would have happened already, clearly they aren't in a rush for cash. If TLS sale pick up momentum I wouldn't be surprised that they will be washing its own face within a few months. In this case the only need for a raising would be to get some big players set, as stock is limited. I think the call of colt trying to drive down the share price for him to accumulate or make a lower raising price is probably correct. i don't think a raising is needed folks so if you are waiting for something like that you will be left behind. Stock is cheap, rarely would you find a small tech company that could be cash flow positive within a few months after its first major telco deal.