Sachz - they needed a small amount of cash to carry them through...

Sachz - they needed a small amount of cash to carry them through until they can get funding for the massive ramp up of manufacturing that they will do for the XMas sales period. SPP's are expensive, have long time frames and BRT wouldn't be able to raise more than 15% anyway. I believe a small raising now, as they have done, and then getting a bank loan for a few million for manufacturing is the best way to go.

The advantage of doing a placement such as they have done is that the funds are generally put in by only a handful of investors who are more likely to be long term investors and also more likely to pump more money in down the track if need be. SPP attract little shareholders who buy $1000-$5000 amounts, often are happy to sell out at 5-10% profit, it usually costs $50k+ to do a SPP and usually over a 2-3month time frame. So at BRT's stage of development a placement was the sensible way to go. As for the price, I'm wondering what shareholders believe sophisticated investors should have paid for the shares? 10c? 15c? 7c was a good price in the circumstances IMO.