announcement out, page-6

Dear Chops
The placement price is not important in the long run. The great majority of companies like VRE raise money through sophisticated investors because it is a cheap and convenient way to incr the # of shares on issue by up to 15% of shares already on issue.

What is important is that the coy hits it's targets in the coming 12 months. They made it very clear in todays ann that they hope to become cash flow positive in H1 of 2008. That is a 12 month window they are looking at to get these two deposits up and self funding. Cash was always going to be needed for working capital and for capex on new equipment.
New ventures such as ours are never easy. From what I have seen these guys are doing a good job. I dont think you understand how difficult it is to start-up a new organisation (whether there is already infrastructure in place or not).

Vent your spleen if you must but you are naive to think that it will make any difference tp the way that any competent and responsible director would run this company.