Ann: Proposed New Rights Issue and Asset Sale , page-3

Wow! Why make the ann. without the timetable for the rights issue. Are thet testing the waters to gauge a reaction. Why would one take up the issue at 1.5c when one will most likely be able to purchase on market at below that price? Surely shareholders should be able to have the issue at a premium to the market like all the other cap raisings. Can hardly see it going back to 1.7,1.8c now the ann has been made

Sounds like they are not sure which way to go only that they need cash bad. Selling all Bioglobal could come back to haunt them should they want a bit of cash once again down the track. Why not a bank loan if the contract is set in concrete?

Ultimately imo one has to say to himself do you think this company is capable of making $5-10m contracts with their plastic products? That is the question.