resolution 2 from generak meeting, page-43

Hey Scorp.
The $1.4m C/R as far as I can tell came from Oracle Securities and their clients.
If you have a look in the Resolutions of last year you can see that Oracle Securities short terms. one @ $400k and another @ $1m. = $1.4m.
It wasn't until the off take in March that you saw it. (Which helped the sales of these shares along)

With the ASX already on their case about capital. They would have needed funds before end of "Q" imo. Like the last one. It Would be on the same terms as the passed C/R.
In fact if you have a look at some of the latest Resolutions. They are retrospective as well.

I don't see this as bad news. They needed to get funds in and quickly.