Ann: Strongly supported institutional focussed funding round, page-66

Some of the comments on here are breathtaking.

The announcement states:

"...firm commitments, from predominantly technology focused domestic and international investors, for a strongly supported, growth focused, equity funding round of $12m."

Acceleration of aggressive global acquisition strategy targeting the XR & metaverse enterprise technology sector, anticipating the fierce competition of global technology corporations looking for XR and metaverse exposure.

So my reading is, the sector got a major tailwind, VR1 is in the space and been ticking some goals and growing revenue and the SP took off. Investors have approached the Company and suggested VR1 are in a prime spot with great partnerships and by the way, here are some companies and businesses you should be bolting on - you need a war chest to stay at the front of this space.

The raising was always going to be instos because its quick. The Director selling - who cares - small % and everyone has personal circumstances they need to address.

The question I would really to know the answer to is, who are they looking at to add on? - I will bet there's an announcement on this pre Christmas. There is a need to move fast here - an opportunity has arisen that was not foreseen, that they are going after, hence the raise.

Very happy holder