brr monday 11:30am don lewis, page-21

Hi Pythagerous,

Only $47m has been raised to date and it was not fully subscribed, initially. It took an additional 2-3 business days to get the balance over the line.

That being said, how easy do you think it will be to get an additional $38m?

I agree with you insofar as it's a bit of a stretch to think that professional investors or instos are being told the same information as us to cough up $47m + $38m. A common theme we all say to one another on HC is DYOR. I am sure that instos have done a considerable amount of research re SDL, based on much more informed data.

I would think that SDL/DB have set up some sort of data room for investors to graze by if they have the ticket to get in.

I said on an earlier post that there was very flimsy information in the explanatory memorandum (point (f)) to allow current shareholders to approve this second tranche. I stand by this comment.

Maybe the new instos on board will vote this additional tranche thru - but even still, someone has to stump up the funds. There wss a delay in raiaing the funds after all, dont forget. A suspension from the official quotation.

Its telling me 1 of 2 things -

1 things are going better than rosy (in that case I would have thought more positive vibes would be put out to the market), or

2 if the $47m cant get this project proven up then nothing will. Management is getting desperate and does not want to go back to market in 6 months time.

Money is becoming easier to come by, but is it that easier?