On the 19 March 2015 these guys raised $274,000 from their long...

On the 19 March 2015 these guys raised $274,000 from their long suffering shareholders via a rights issue. As a last favour from Crocodile (just before a change of control and name change to Newmarket) an additional $175,000 was kicked in (actually I reckon they did this again in April 2015 with Crocodile taking another 2m shares!) - so they ended up getting 2 last favours by the looks of it for another $150,000. As of the 30 June 2015 they reported $498,000 cash (but that was 3 months ago!) If they spent what they did in the June 2015 quarter ($549,000) - then one can only see why they are going back to their shareholders! But why would anyone support them!?! Particularly with the ATO issue of approx. $1.5m hanging over them! The price of 3 cents seems a bit steep too - for all the risk associated with this company! I can't see this SPP being very successful considering the current market, the over pricing of the SPP, the ATO problem and the excessive amount of money spent on management who are now chasing nothing more than conceptual geology!