Ann: Placement , page-2

So, we have a placement of up to 50,000,000 shares at 8c/share to generate up to $4,000,000.........
.....followed by a subsequent Rights issue in the "immediate future" to provide "opportunity" for "loyal" shareholders to participate.... (they left out "suffering", lol).
With our markets in decline, I would think that will be at a discount to the 8c placement.....

Awesome cash-burn rate, awesome dilution...for nothing having been done "on the ground" for some time....as we wait for our "funding package".
I think they ought to can the Rights Issue, at least. My feeling is that it wont be well supported, and will be but a vehicle for some behind the scenes to benefit (maybe, lol) from picking up the shortfall.
All very disappointing, for me anyway.

GZ