Is rejecting the placement a good thing?Firstly they canvassed...

Is rejecting the placement a good thing?

Firstly they canvassed and have support for it, so its in the bag.

Secondly, and more importantly PNO need the funds for "working capital"(concerning) and marketing no doubt. Without the placement we are dead in the water. As it stands support from existing holders will be minimal. Why add more shares to a company that has underdelivered and why pay 0.7 when you could buy on market for same or cheaper.

So the placement is really the integral part of this funding package and I doubt their is a valid alternative. Debt is not an option especially when we rent our premises and already have convertible notes. Our balance sheet dictates dicounted cr is the only path forward imo.