Ann: Trading Halt, page-42

No bad news, probably good but remains to be seen how good.

They are having a new share issue where current shareholders can buy more at a discount to the recent share price. They want to raise $4mil and already have a commitment for $2mil from big investors.

The "probably" good news is that the plan is announced before the results from the double blind testing are out, but they say "it is likely" that the results from the testing will be out before current shareholders have to commit to buying the new shares (or not). They've been pretty clever about it I think because the offer only applies to shareholders who had shares before yesterday.

This means that if the results are not great, you wouldn't buy any more shares, but if they are really good, the share price will jump but current holders can still buy the new issue at the discounted rate and make a certain substantial profit.

The reason they are doing this is of course to raise more money but also to further reward their current faithful shareholders if here is a big jump in price. So, we just sit tight and wait and see. If the price jumps substantially we just sell a few of the shares to pay for the new issue and make a bit more profit.