You are correct paulb1 about sophisticated investors. There is...

You are correct paulb1 about sophisticated investors. There is something about this placement that still grates. I realise as Lincoln Augustus put so clearly we could have bought shares at prices lower than the 55 cents a few weeks prior. I'm sorry Lincoln that doesn't raise any money for the company its the placement that does.
My gripe is the price of 55 cents compared to the average over the preceding 20 days and the total wiping off of the investors who have stuck by this company in many cases from the beginning. Its a a whitewash to say it takes too long to advise the shareholders and raise money that way. That shows lazy management. In this day and age there is growing strength being shown by and to shareholders and good companies should listen and indeed prefer their shareholders. It sounds silly but we own the company. Anyway its been done, it was a successful capital raising, mind you who wouldn't jump in to buy at a 23.6% discount to the last trading day. Just in case Lincoln you think this is just another HC poster letting off sour grapes my broker has me as a "sophisticated investor", and yet I still think the company made a mistake in the price and leaving out current shareholders.