This spp, is starting to feel like the movie 'ground hog day',...

This spp, is starting to feel like the movie 'ground hog day', where it starts repeating itself over and over again. Have received my application form and note that closure date is the 29/4. Reading through the form, I note it is VERY light on item # 5. "use of funds". ' The funds raised under the spp will be used for working capital to identify, assess and pursue potential investment opportunities'.
Correct me, if I'm wrong but I think the last spp said exactly the same statement? Where are these wonderful investment opportunities from that spp?? I also note that another 534 million shares are going to be issued through this. This MUST then indicate that a consolidation is being planned so that it doesn't turn into a bigger farce then it already is.
The ONLY saving grace that I can see is that it is backed by Patersons. I don't believe that they underwrite willy nilly without researching their exposure to minnows like sbn. If it wasn't for their presence I would not even consider taking up the offer.
The old catch 22 again. If you don't take it up, your shares WILL be diluted, big time. So for the LAST time, I for one will be taking it up.
Is there anyone else out there in the same position or has everyone left the building????