*The current capital raising was supposed to raise approximately...

*The current capital raising was supposed to raise approximately $11M and has only raised about $2M [say 20% of the required amount].The $2M raised effectively cost $350K [17.5%].
*The offer was not underwritten by any broker which in my view was also a deterrent for any future investors.
*The constant and regular raises and subsequent shareholder dilution appears to have finally caught up with current AVE management.They should have known that this raise was not likely to be supported especially in view of the amount required.
* The $11M raise is about 70% of the current value of the shares on issue [market cap] and was always going to be a big ask.
*If the shortfall can be placed it will be on unfavourable terms to existing shareholders due to the AVE desperate financial position to carry on the clinical trials.
*A partial financial solution may be to try and sell off some non- CBD assets from the portfolio.
*Horizon 3[McNamara] may assist with some additional funds here but their investment strategy will not allow them to become overweight/cover the shortfall in AVE.

Not wishing to be pessimistic here-simply trying to assess the AVE situation as it now stands.
Kens