Ann: Shareholder Update on Section 249D Notice & Company Position, page-20

a much more professional update than last time .... however first two points and the main two I feel like they are "selling" to me and not addressing.

1) BOD don't tell me you had to upscale spp because you wanted to be fair to retail investors. if you needed less money (implying you had to upscale to be fair to everyone) then just go to existing institutional and retail investors ..... I have no doubt you would have raised the amount of money...... why did you go to new institutional investors??? IMO they have not addressed this
2) timing of capital raise - they are looking at what analysts are saying the SP will be - so organisations like Morgans..... that is laughable ....seriously BOD - even us retail investors who understand the potential here could have told you SP would be in 20's..... you still have $20M in the bank- again this IMO has not been addressed .