Ann: Underwritten Entitlement Offer, page-35

I'm not surprised the pump happened today actually, now that the chance to take up the entitlement offer has passed. Because the underwriter will end up with a fair amount of the shares since there is no chance for shareholders to apply for extras from the shortfall, and the underwriter will want the shareprice as high as possible when they get allocated so they can take a nice profit I'm sure.

I like this company and think it will achieve great things over the coming years, but comparing it to another 2 'medical device' companies with similar earnings prospects, it just seems a bit expensive at around a $200mil market cap (post capital raising), and only small amount of earnings which could take quite some time to turn into profits. There's a lot of marketing and sales work that will need to occur and this might take time. I want to build a bigger pisition in this company I'm just worried about the underwriter dumping a heap of stock in the coming months and driving the price back to the issue price of 60c