Ann: Non-Renounceable Rights Issue , page-3

Yeah it was obviously coming. Not so much because of the recent news flow but just common sense. I'd been tipping July/Aug just on the cash in bank situation. Guess it means we haven't had a miraculous July with revenue.

I'm a bit surprised that the amount is so low, would have expected $1mil or more. Also disappointed that they are using the same PNOO when they should have issued a new series with longer expiry and lower ex price. This will be a hard sell without extra news. But atleast our market cap will rise a bit more.

Just gotta read through the prospectus now and see what is in the pipeline to induce us.