important info re disgraceful cap raise, page-7

I'm not sure how much difference the cash will make and not sure how much to include in any valuation.

Ideally the cash will put them over the top and things will improve. But remember they had to reduce rent in one of the properties and it wasn't by a small amount. That can't help. All the fees payable out of this can't help either. Not getting as much for the cash as you would want.

I think the original investment rational for this company still holds. The US economy is improving and eventually the Aussie will fall relative to the $US and their is still a decent discount to NTA. I just have a lot less confidence in it happening. I might get interested again if the price falls into the low 30s, just not now.