Ann: Response to ASX Price and Volume Query, page-165

Not sure I understand the logic here. They raise $2m (even though they had $1m at bank from raising a few months earlier) because they are on the cusp of a major revenue bearing announcement?

This CR was planned (and probably priced) before the Pfizer vaccine results were announced. Europe and the US were plunging into a 2nd wave with further lockdowns. I think it's more likely that FRX management probably didn't want to get caught short again with the outlook for global travel deteriorating.

Could they have stopped or repriced the raise once the vaccine was announced? Of course they could have. But they didn't.

So, for me it's more pertinent who the raise went to. If it was existing insiders, I'd suggest that things are likely to heat up nearer term. If they've raised to new investors, I'm way more skeptical particularly given the massive volumes, intraday swings & appearance of many rampers here on the FRX threads over the last few months.

All will be revealed soon when the change in substantial/directors holding notices are lodged. If anyone could be bothered you could request a top20 and it would be quite easy to figure out.