new issue details, page-3

Why couldn't they just do a 1 for 10 rights issue at 14 cents ?

What is the reason for a 1 for 20 at 28 cents with a bonus share ? What does this accomplish.

It appears that ITE is strapped for cash and somehow spent in excess of $4 million since 31 December, 2006.
Money banked from software sales during the current period must have dropped right off to be borrowing money from UXC at the unsecured rate of 12 % p.a.

It could be that sales revenue is very lumpy and irregular and approaching 30 June, 2007 they may suddenly be inundated with cash. Lets hope so. Thats of course if they are still listed by then.