From the last presentation apx 40% of the register is "Insiders...

From the last presentation apx 40% of the register is "Insiders and long term institutional holders. It is very hard to maintain a Chinese wall to keep potential insider trading from happening when there is that kind of incestuous relationship going on. The last cap raise at 1.7c last in April 2022 was underwritten by the management and entities controlled by the chairman. There is a case to argue that the timing of that issuance was designed to top up the coffers before the much touted growth in TTV (IPG etc). We all now know that plan didnt work out too well.
Now, coming to the vastly increased volume of trades that took place on Tuesday. All of those 40% of insiders are underwater on this stock. As are the retail holders. I would speculate that most of that 40% are not best pleased. At least one of them to the extent that when they got a sniff that a cap raise was imminent, took the opportunity to cash in in the hopes of picking up a chunk of shares at a lower price. The management have gone out of their way to imply that a cash raise was not necessary and yesterdays announcement was completely out of the blue (for retail holders at least) I am very suspicious of this behaviour. It looks very much like friends and family might be getting taken care of.
The fact that the form of the raise has not yet been communicated to the market suggests to me that a large part of it will be a private placement, perhaps with a retail element attached. Again, this seems like it may favour that 40% again.
I bought some more on Tuesday before the announcement, and it bites my bunion that the seller probably knew what was coming. I have not made any decision about contacting ASIC about what looks like classic insider trading behaviour. Mainly because ASIC are useless. But, regardless of my respect for Mr Dixon, somebody in his inner circle is playing fast and loose with my investment, and I really am quite cross....