Soooo 2% POT for the 6 months, and have gone to market to cover...

Soooo 2% POT for the 6 months, and have gone to market to cover what are pretty much operational expenses. So technically the profit is just a fake out because if they were a business worth the investment they would be able to resolve through reinvestment of earnings and small bank facilities. Yet they had to go to market to buy gear. I would say the Sophs will get hit again for a further $6.5m placement in the lead up to September to roll the CBA debt call. Further diluting the shareholding.

This business looks like it is a free public service to the development and construction industry that only survives as long as it has the ability to go to market to raise further funds. It wouldn't last 6 months in its current form as a private business. Dead investment. I suspect there will never be shareholder returns.