capital raising @ 3 cents, page-6

Ognid in answer to your question "Why does ASIC sit idle" is answered admirably by Terry McCrann in his article in this Weekend Australian and entitled STEALING FROM SHAREHOLDERS. Following is a bit of what he has to say. " Currently every one of the 2000-odd companies listed on the ASX has a nearly unfettered right to make selective discriminatory placements of up to 15% of its current issued capital every 12 months. There is absolutely no specific restriction on whom the shares go to or at what price-that is to say, at what discount to the market."

Therefore I can only deduce that the directors and insiders, by taking up this entitlement , have given a huge vote of confidence to Patrys. At the same time they have, according to McCrann, stolen from the shareholders and given to themselves.

Now , tongue in cheek one wonders why would they load themselves up like that?