re announce out, page-3

You could view it a couple of ways. The company only had $500,000 left in the kitty so new cash was required urgently.

Also the amount raised is a strange amount. The company hasn't said how much they were trying to get - just what they were able to raise (which was at a huge discount anyway to what the shareprice was when the rumours first started to circulate.)

Its bought them time - but the clock is ticking.

And needing to raise now has trashed the shareprice so without some real progress the price will do nothing but slide further.