Ann: Update on Entitlements Offer , page-7

Nail on the head B, sounds a bit like one of my rants.

They're not very creative and most likely either greater ratio leverage or option sweeteners (maybe 15/20c strike?) to bring in more cash.

Whilst there is little doubt they have shafted us blind over the past year, the last presentation, relatively timely shareholder communication (instead of drought) and reasonable contract wins are real positives.

In the GFC i couldn't stand bail out $$$ going to the inept or casino players.
Normally you are best having them fail and the astute cleaning up.

Whilst you could easily argue we are bailing out the inept, the fact remains that administration is good for no one, bar the administrators.

With this is mind and as much as is hurts, i tipped in at the last minute to help this over the line and believe with recent events a going concern is by far the best option.

Once again, tough if you are short of cash and IMO convertible notes would have been a much better option as a core / sole part of the CR.
Mav