Ann: Notice of General Meeting/Proxy Form, page-5

So a 6 month period the price went from 16cents to 11cents. Now say they tried issuing shares at say 13 cents a share while it was 16 and slowly declining. Imagine how much more quickly it would have gone down while shares were getting sold at a discount and the price already going down. A good chance it would have gone below the 13 cents offering and they would be left with half the shares not bought. And then they would be still diluted without all the cash to fund Indee. Much safer to wait for the price to stabilise from an over-hyped play. And if you bought in the hype then you are part of this companies problem.
I will admit, in the mist of things I thought it was going higher and bought about 5000 shares at 25 cents. But we are back to reality. This is a structural company with a cherry on the side.