Is it a placement to sophisticated investors? How many shares?...

Is it a placement to sophisticated investors? How many shares? Options? Price?

Personally I don't have any problem not being offered any shares - as long as the company raises sufficient funds, to cover the period leading up to a final debt/equity arrangement, that funds Step 1 Stage 1.

IMO it's critical that the company remains sufficiently cashed up for at least 6 months, at a time when fund-raising is not guaranteed - after all we're currently in the midst of a huge crisis that has forced many company's to reassess their activities, and likely to have considerable negative impacts on employment in all major economies, let alone little old Australia.

If this fund-raising is anywhere reasonable I'll be comforted!