Ann: Private placement, page-59

Ann sounds awful, but a few thoughts:
1) I would think that the 1.5c shares are a rectification of a previous mistake to do with the placement long ago. It is more common than you think. There were some funny things with MNC recently too which had me thinking same.
2) the $500k on exhibition fees and product for it is what bothers me most. Truth is, we dont know what is included in this figure. There may be some sensitive "costs" bundled up in here that cant be openly spoken of? How is high level biz done in China? I dunno, just musing out loud. But that's the bit that really sounds... well, troubling.
3) 10c is too low a price for the raise - Thats true. I reckon just like previous raises they are getting fellow Chinese business allies on board to facilitate the future distribution and sales. Good idea and I support it (a necessary evil for future success Im afraid), but I still think a price around 15c would have been more appropriate, but I guess directors are participating to tune of $1.2m so they want it cheap. Shoulod put a floor in around that level anyway.
4) on that note, since directors are putting in $1.2m at 10c, they clearly think it has great potential in future. That is a decent amount of money for normal everyday guys. these guys are not millionaires. So it shows real confidence in the business they are building and progress they are making.
It is the strongest point of all.