Well this is disastrous! - unless it's to gear-up to service a...

Well this is disastrous! - unless it's to gear-up to service a large contract(but I expect we would have heard about any new contract before announcing a cap raise). They have never accounted for the last capital raise(about 12 months ago) as we still don't know what they spent the money on and now they come cap-in-hand for more??

It will be interesting to see what the issue price will be and whatever it is I expect they will be available cheaper on-market when it dips below 10c. Of course that's assuming that it's not a raise by issuing only to sophisticated investors and us unsophisticated investors are ignored.

Be prepared for an all-time low sp. The dilemma here is whether to accumulate or bend over and take the loss to exit.
Yeah, I hate being right too.