new financing deal

Is it just me or is anyone else pretty pissed about the new financing deal. Everything looks pretty good except (and it's a big one), the issuing of 50 million options to Macquarie at 13.5c instead of their 27.7m at $0.27?

If HGO were to ever trade again at $0.27 again, that's the equivalent of giving away an extra $6.75million in equity away and thus diluting existing shareholders further.

From the announcement, I can't see any justification or benefit of that scale to existing shareholders.

I note the market hasn't exactly jumped on the news with the stock still trading at 7.9c. I wish this company would look after shareholders before their bankers and brokers. If they did, the share price wouldn't be this low...