With respect, you don't actually know what other buyers and...

With respect, you don't actually know what other buyers and sellers in the market were thinking - but I do agree some very probably misunderstood the implied value of the company at $0.755. I sold stock around $0.50 that day with some trepidation, with a view to buying back via the entitlement shortfall facility, which itself holds execution risk. Buyers and sellers are motivated by all different strategies and motivations. The stock was traded all day and still closed at 30 cents.

If you understand the dilution effects and what people were trading, 30 cents is not perhaps such a remarkable price. This stock had a $200+ million market cap on its listing back in its 2019. Prior to the ASX amendments and suspension from quotation (for periodic reporting let us not forget - not this debacle of a raise) and post the allocation of new shares, I would not have been surprised to see this stock over 10 cents given the approvals - which themselves have been poorly described by the company in implication.

ASX and ASIC will have a very good look at this one - the entitlement was a mess. ASX and ASIC are also a mess that their rules allow these extreme actions - don't forget all this went out under the nose of an ASX listing officer and investors like myself gave them ample alerts to the poor stewardship of investor capital as you rightly point out.