the deal, page-3

dappadan

"ANP had the option to do a cap raise while the SP was in the .032 - .039 range - before and after the latest Ann yet chose not too. "

below are the days that ANP has touched the share price range that you mentioned

28/11/11 - 0.028 to 0.034
29/11/11 - 0.031 to 0.037
30/11/11 - 0.028 to 0.034

02/12/11 - 0.027 to 0.032
07/12/11 - 0.026 to 0.037
08/12/11 - 0.031 to 0.039
09/12/11 - 0.028 to 0.034

15/12/11 - 0.028 to 0.032

8 days in total

i think you are being a bit ambitious about your stated capital raising range......especially now, considering price is well off its highs

ANP chose not to, or there was no capital forthcoming?

it is more likely that a capital raising would occur around 0.02 to 0.025 imo