gee they even screw that announcement up, when they say a...

gee they even screw that announcement up, when they say a maximum of $15,000. Why would they indicate a maximum considering the track record of previous cap raises?

This is why seq.


A SPP allows a company to raise capital from existing shareholders up to a maximum of $15,000 in 12 months for any individual share holder without issuing a prospectus. Consequently it is a cheap way for a company to raise capital as they do not have to incur all the costs of creating a prospectus and lodging this with ASIC.

Not sure why people are up in arms. They flagged a capital raising and it's been obvious for a while it wasn't going to be at 1c. I'm just glad they're now getting this out the way as it has been a drag on the share price.