any idea what the hold up is with the issuing the balance of...

any idea what the hold up is with the issuing the balance of tranche 2 from the placement ?

they planned a
placement of $2.5m and
entitlement of $2.5m [which the details are not yet set]

for the placement
tranche 1 [199m shares] was fully issued 27 Jul
then vote approves tranche 2
tranche 2 [216m shares] 105m issued 21 Sep, and 69m issued 4 Oct

there is still ~41m shares to be paid for and issued in tranche 2

"Several of the Company's directors and key management personnel currently intend to participate in Tranche 2"

assuming the majority of tranche 1 went to "investors including international and domestic institutions"

what's the hold up and why ?
anyone know who's dragging the chain ?