placement of 100m shares at 1.07c, page-8

I don't think it was really that unexpected. It was realised by most here that a placement was on the cards. Sure it's at a lower price than was expected. OBJ issued a placement to "sophisticated" investors recently and their share price continued to rise and gain momentum on the back of a very good product.

I think PNO has a good product also. The marketing will be critical.