at what level can we expect the cap raise?, page-134

Untenable? Were any shareholders sounded out for capital raising other than instos? Or perhaps instos said no and brokers said we won't underwrite it...

We really need to hear from the company to know what exactly is happening though.

The direction of this saga is not looking great unfortunately.

As for founders of the company they may be feeling disappointment but perhaps some relief as well, to have walked away. Often these guys will just start up again on a smaller scale and build a new company back up again, after any restrictions of trade lapse.