Ann: Renounceable Rights Issue-VPC.AX, page-4

This is why it hurts current shareholders and advantages all the newbies.

Us holders have to find extra cash to stump up for a stock that for just about everyone is well in the red. (I am down 23%.)

If you were buying in today, you could purchase at below 4 cents and then get your rights issue for an average buy price of less than 3.5 cents.
These new buyers will be the first to flip their shares and take profits, probably before most of us even get close to being back in front.

It could be a long road back to 6 cents and conversion of the options unless these sales channels start turning out some cold hard revenue in the a very short amount of time.

I still believe in the company and will be taking up my full entitlement, but I am peeved off about how they have structured this whole shebang.

On the other hand, I wonder if there is any other sales news to be dropped before the record date to really get this thing humming again...