Ann: Placement, page-3

let us have some fun with the selling today

1. the new shares do not exist yet
2. the sellers already have the shares - why would they sell at 60 cents
3. are they really selling for a 2 cent swap on their shares.... 60 cents to 58 cents... hmmm 3% on $15,000 is $450 (is that it?)
4. are there short sales going on with the 'professional' tranche buyers.... 3% on $1 million may be worth it?

I also note the dates for the approval of tranche2. Well after Tranche1 buyers have their shares and rights. So, in effect, the Tranche1 voters will let in the directors; and maybe professional buyers are offered their 58 cent shares in two halves; so under the 15% dilution they get their shares, then their 15% holding votes to give themselves another 15%

I wonder if every retail holder takes up their $15,000 if it will be over $5 mill. As the SPP has a hard cap at $5 mill. So if retail guys are selling today, $15k at 60 cents to buy back $15k at 58 cents.... mabye they will not get $15,000 in 58 cent shares... then they have sold their shares at 60 cents, never to get them back.

I am a buyer today. And I will be in the SPP.