They didn't say who picked up the shortfall so we simply don't know for sure. A first sight I assumed it was the underwriter but thinking about Jack's comment earlier I suspect if we reverse engineer the number we get some idea. The underwriter was only on the hook for the first $750k. Entitlements accounted for just under $670k so underwriter would only have been on the hook for the next $80k. Therefore $600k of shortfall shares issues are unlikely to be the underwriter directly. Either over-subscriptions or underwriter placed them.
No special insights about the money being spent. Likely just slowly disappear like the R&D money did.
BIT Price at posting:
0.4¢ Sentiment: None Disclosure: Not Held
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