but aren’t placement receivers who get shares at 1 cent + free...

but aren’t placement receivers who get shares at 1 cent + free options likely to sell at a lower price than Alpha who would get the shares at something like 1.1 cent? Ie the placement receivers ‘break even’ sales price must be more like 0.8 cents vs 1.1 cents for Alpha

it may be that Alpha wouldn’t take the $1.3 m worth of issue, but SIS’s December announcement clearly states that SIS has sole discretion over the quantum of issued shares (but perhaps not over the value of issued shares??)

don’t get me wrong, I’m still a strong supporter of SIS and was greatly encouraged by their Dec update, but my initial interpretation of the Alpha announcement was that it meant they wouldn’t have to resort to highly dilutive raises in the future.