Ann: Trading Halt, page-67

In the previous announcement on the Capital Raising by the company they indicated at the time there was no need to do one. They didn't want to just do a CR just for the sake of doing a CR and had alternative revenue streams to build the cash balance.

They have shown in the last quarterly report that the revenue realised and received was above expectations and on track. So the logic for a CR doesn't exactly make a lot of sense.
Unless the expansion of the business model has grown at a pace outside any short term strategic plans. Clearly it has exceeded its own rapid expansion plan however, so has the revenue received. With any expansion plan cash is needed.
Looking at the SP movement it would appear they may have been working on this since around 30 Sept 2016 when the SP peaked at 5.5cents and took a dive.
Further analysis of the SP movement over the last couple of months indicates that it has clearly been controlled and capped below 4cents.
If there was a market wide CR offer (retail and sophisticated) you would expect the SP to have been pushed up over the last two months to justify a discount to previous 10 days trading but that has not happened.
In my best case scenario the CR would involve a strategic Partner who is buying into the company (AT&T for example) to fund the development moving forward.
Alternatively given the SP activity over the last couple of months the CR might just be at premium. Given the experience of the Management team CR at a premium wouldn’t surprise me.