Ann: Results of Entitlement Offer, page-10

I would of thought they would have stumped up as much as they can - especially knowing that the perception of not meeting $4m would not be great for market confidence.

Actually, if they did participate in a subsequent raise at a further discount, I will personally call ASIC as that basic financial modelling would have foretold this result and the probable need for a subsequent shortfall placement. Holding back dollars in this raise just to participate in an even cheaper subsequent raise would be treating us all as mugs and we would have no choice but to pierce the corporate veil so effing hard.