The board seeks shareholder approval fro the issue of up to...

The board seeks shareholder approval fro the issue of up to 50,000,000 fully paid ordinary shares in the Company. The shares will be issued at a price which will be at least 80% of the weighted average market price of the Company's shares, in order to raise approximately $3,000,000.

80% of 4c = 3.2 x 50m = ~$1.6m
No where near the voted on approximately $3,000,000.

Even at 4c is very borderline.
100% of 4c = 4 x 50m = ~$2.0m

In my view should be at least 5c or higher
125% of 4c = 5 x 50m = ~$2.5m

So lets wait and see what this company can achieve.