Personally, and my opinion only Fadi, no, this is not good news...

Personally, and my opinion only Fadi, no, this is not good news for holders with the last traded price at $1.

The announcement states that if the capital raising goes ahead etc there will be an extra 56.5 million options issued with an ex price of 30c in addition to an extra 13 million shares and the possibility of another 13 million shares or 13 million options dependent on trading/trading value.

In other words at last traded price, that puts over 56 million options each in the money to the tune of 70c. That amount of options on issue at a comparitive low price to last trade would likely have a very significant downward effect in my opinion, coming on top of the numerous question marks regarding the site, ASIC's ongoing queries and the demand for a repayment of funds previously provided. The fact that the options are valued at 30c may be an indication of where this may be headed when it trades again. The new shares in addition to all options if converted would more than double current shares on issue. But all my opinion and would certainly encourage further research both on these threads and elsewhere.

Also got another run in major national daily today.