Ann: Norwood Raises Capital for Continued Service Expansion-NOR.AX, page-126

I said it before but NOR made a huge mistake issuing shares to institutionals at 8c when the share price was 16c, and they made a huge mistake raising so little at and prior to that time. Had they done a rights issue and raised 30-40m it would have been over subscribed underwritten and given long term security, that would probably have resulted in telco deals already being signed, with the likelyhood of up front payments.

This style of living hand to mpth drip feed capital raising, just leaves a lot f people with a bad taste. Why not $20m at least? The stability it would bring would give a much better chance of the CR succeeding and lower potential investor risk.

On the bright side should they raise the money, there is a bunch of things on the cusp, 2 x new apps near ready, plus elusive telco and corona deals. But they need that ammo to bump up the price to the option trigger price.

If they could pull one bit of good news of right now, it would help the offer uptake big time.

There are also probably a lot of people who cant afford to not take up the offer and all that would antail.

No underwriter as far as i can see, but that should not be an issue if money is to be refunded anyhow should it need to be.

I still have a small investment in NOR.

If you have a big investment in NOR you really cant afford to not take up the offer.

Regards Mark H