does westchester get a maximum of 50m, page-6

They should have went out to the market place and looked around for someone else to take a placement at a higher price. I still don't understand how this raising at 5 cents is in the best interests of all shareholders and the companies longer term goals. It is bad enough when capital raising is wrapped around giving their favourite "sophisticated investors" cheap entry into a story just before it takes off but when management are blatantly setting themselves up it becomes difficult for the small investor turn a blind eye and be happy about it. Why don't they offer everyone else a 1 for 2 placement at 5 cents as well. I would be up for that. I am not as bullish on this story as I used to be but still holding as I have bought in this price range and costing me nothing but opportunity lost elsewhere I spose.