more shares issued

33,555,556 in fact.

I see this as good news.

1# it was a private placement - therefore a little bit of insider knowledge would have been passed around to get the commitment form investors.

2# The placement was at 2cents. - this is great sign that good news is ahand.

If i was to 66 million into a company that had a history of failing to deliver and with over 1.5 billion script AND pay a premium of 2cps for it, I would want to be pretty confident of making a return on my investment.

Perhaps this can be atributed the the recent price rise.