Rights Issue, page-4

It's fair enough to be dubious.
That sp drop (actually from 5 to 3) still needs some explanation, as I think it was a deliberate raid, rather than a reflection of fair value.

But the announcements of the appointment of Kidder Williams, indicates the company is in play and will take reasonable offers. How else can you interpret that?

You can't negotiate with less than 6 months cash and someone on the register playing the sp down for their own intentions.

Go back to fundamentals: a CE approved radiotherapeutic in EU, NZ, Israel and some Asian countries, for a neglected cancer indication with few other treatment options, selling into hospitals with some revenue, a good (if expensive) management team, and with the whole of the US market still open (albeit needing a trial).

Is that worth 20 million?

It's worth 10 times that.