It's an interesting response. Here's a few things I've picked up...

It's an interesting response. Here's a few things I've picked up since the trading halt that don't really answer the questions but just gives more to ponder.

Firstly, many people are saying this is dodgy because of the odd timing etc and they don't believe the story outlined is truthful. The main cause of this is the involvement of Clee Capital and Everblu. There are a few news articles out there that question the motives of these companies. I'm not questioning or insinuating anything. I think the news articles don't sound good but I don't know the other side to the story. I do believe they both like to make money as that's part of running a business.

Clee Capital usually do smaller raises below $5m as far as I can ascertain. $40m is quite a substantial offer and probably the largest they have conducted (I have no confirmation of this). One other interesting thing about Clee Capital is that they do have an appetite for South East Asia having completed a few capital raises for company's operating in this region. This could afford the company quite a few lucrative contacts.

I also believe the hype around IOU has caught a lot of attention which may lend itself to sophisticated investors contacting and asking about future raises. This would indeed trigger an unsolicited offer on behalf of Clee Capitals because of the demand.

Why would a large company go through Clee Capital or Everblu to buy a stake in IOU? If they have $40m to spend I believe they would go directly.

Unfortunately I don't believe there is a cornerstone investor based on these facts. There's still a chance but it's not likely. I think Clee Capital and Everblu jumped on this because they watch the space and were confident they could get enough interested based on calls they were getting. Just my opinion.