yawn ... these guys are so predictable. This probably comes quicker than people thought post the report, but follows the tried and true format (ASX sales announcement, commissioned research report, cash raise). At least management didn't have the gall to do some sort of 'corporate roadshow as that end of the market is closed to them IMO ... forever. It is now targeting the retailers for some sort of last gasp.
APP raising on behalf was always going to happen - problem is IF they get $500k through the door (they will want at least 10%), net funds will last how long? seriously, it is not bridge financing they are after is it? I wouldn't want to be in the queue to throw these guys another lifeline.
Cheers
Charlie
IOT Price at posting:
1.7¢ Sentiment: None Disclosure: Not Held
