Yep I saw that after posting.
However if the share price was under 10c and the company called in the remaining monies, would you pay up? Why would you pay 10c to gain a head share worth say 7c, 8c or 9c. If you wanted to buy shares its more sensible to just spend that cash via an on-market transaction.
While a few would to contribute to the company, most shareholders would choose not to pay 10c extra if the fully paid shares are trading under 10c. The extra money is only available at higher share prices but existing shareholders still get all the dilution of a massive number of new shares being issued. With over 120m shares now issued, getting above 10c requires getting a MC of more than double what it is before the offer.
Surely if management wanted $500k to buy the Byone option they would have been better just to place 10m shares at 5.5c. Far less dilution to existing shareholders. Management that are happy to dilute existing shareholders for little gain are dangerous. Sentiment changed to SELL
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