Ann: Notice of General Meeting/Proxy Form, page-20

pretty sure there won’t be any positive reasons.
all I can think of is:

1) the company faces insolvency without another injection of capital.

2) at the minimum CR price of 80% of prevailing price the CR price would be under a cent.

3) raising under 1 cent is probably not permitted under current debt arrangement…

salaries are a pretty big component of the costs… it might be time they take a haircut until they can generate a positive cashflow.