I doubt if any long suffering share holders will take up the...

I doubt if any long suffering share holders will take up the rights issue without there being some news of sales to the 'HUGE' cosmetic collagen market. The recent placement of 24M shares at 1.8c raised $432K and this issue will raise about $1.2M which at there burn rate is enough for
7-8 months.

Additionally, their focus and 'blah blah blah' about medical grade collagen makes me feel as though they are not hopeful of securing sales to the cosmetic market anytime soon. Remember this was the massive market that was desperate for their collagen.

Their quarterly due at the end of the month (you can bet they will be amongst the last companies to file it) will show their burn rate and how long they can last without sales. This is their last role of the dice. No major sales revenues by the end of the year they won't be here next year. Also note they will be moving premises soon as they can't afford the rent increases of the West Perth offices.