Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-112

Yeah man, something is up here. Like I said, they had plenty in the bank last time they did a cap raise.

Remember the last CR they did , they raised 3.5 million at 2.3 cents, and at this time they had $28.8 million in the bank (same amount they have in bank now.)

Why did they raise 3.5 million at a low price, diluting holders when they had close to 30 million in bank?

We are watching a repeat of this now, they will do a cap raise trying to attract new investors at a 'better price' out of the under 10 cent range. Even though long term holders will be getting diluted at worst 'real' (pre consoidation) prices.