Ann: Supplementary Prospectus, page-183

If it needs to be spelt out?
The last raise at 3 cents was while the SP was trading over 5 cents. Since then the whole business model has backflipped.
Directors have jumped ship.
Cash from the last CR is going to be lost (how much is yet to be determined).
SAS only have enough capital to last weeks, nowhere near long enough to see a launch, let alone pay for the remainder of the Pearls.
Every insto in each CR so far has been burnt.

So why on earth would any insto now participate in a raise at a premium to current SP? Especially if, as I expect, the SP crashes further if/when trading resumes.

I'm not convinced they will be able to source further funds from instos or retail, and if they do I would guess it would be raised at around a cent or less.