figured it out, page-26

Dann, Im with red on this one, i said will have paid 25c, someone tell me if im wrong but my assumption is that it will be a 25c offering regardless of the current sp but no money will change hands until the placement is finalised. remember the placement price was set just after it was pumped to 30cps, so at that time they were getting a discount. the volumes to sell it back to here are nothing. I think we are talking about 120 odd million shares to be issued. to get that many on market would take a lot of work, time and would never be at 25c or less.