My Morgan’s stockbroker confirmed to me that the issue of 462...

My Morgan’s stockbroker confirmed to me that the issue of 462 million new shares at 8 cents has been completed. I was offered stock but the settlement for the placement isn’t until 19th May, which in current market conditions is an eternity to be trapped in a stock and in unable to sell if market conditions deteriorate. The spp for upto $5mill will occur in may, but I suspect their may be an opportunity to buy on market cheaper than 8cents going forward. This placement will keep them out of Voluntary Admin, at least for now but it is a business that will remain under pressure and if they want to grow at a decent rate, rather than just survive they will need more capital going forward.