What I struggle to understand is how on earth is this a smart...

What I struggle to understand is how on earth is this a smart business move?!?! Putting aside the fact that Jones is running around like a chicken without a head, how is this capital raising viable given the large one we have just subscribed too.

Are we not waiting on a decision from Novo (which should increase the shareprice and assumably provide some funding), do we not have a unique product waiting on properly announced results - which can increase our share price considerably, and did the directors not consider /prepare for Lupus trials earlier??? Why suddenly are we raising more cash at such a low price. In my opinion the $10m raised a few weeks ago should keep us running (including the start of lupus trials) until the share price rises to a expectable level where we can raise capital without being subject to a ridiculous level of dilution.

Does anyone normally go to a bank (to raise funds) and ask.. whats the highest rate you can give me? Jones seems too...