Ann: OVERSUBSCRIBED CAPITAL RAISE, page-2

"The Company will seek to issue a further 285,000,000 Placement Shares to raise $285,000, subject to shareholder approval at a general meeting of shareholders (Tranche 2). The Tranche 2 Placement is inclusive of Director participation of up to $20,000. The Placement Options will also be issued subject to shareholder approval at the general meeting."

So I guess it being oversubscribed is a good thing and means we can tread water for a little longer., and director participation is always positive but only $20k?Each or total? And why is this in tranche 2, not 1? Are they hoping it's knocked back so they don't have to actually buy shares? If they're happy to participate then why not just buy on market? Seems like a bit of a joke really but that's just my opinion.

DYOR. My opinion only.