Show us evidence of your statement "cheap shares to mates and...

Show us evidence of your statement "cheap shares to mates and related companies"

At 5c the raise was only an 18% discount to the 20 day VWAP. In a market as choppy as this i don't consider that an urealistic discount.

I know for a fact that a significant number of new holders were introduced with this raise. A very good thing for the register.

And as far as the "mums and dads" not getting an allocation the raising was done to 708 holders (Very quick and far less costly in not having to provide a prospectus) so these mums and dads can either get a 708 signed off by their accountant if they qualify or accept the reality that they only have access to retail offerings. Simple.

Bottom line is the company is now well funded and has a significant amount of news in the pipeline that will benefit ALL shareholders if positive.