If this company is doomed why did someone pay $288,000 in one...

If this company is doomed why did someone pay $288,000 in one hit for 8million shares at 3.6c per share. Why would you do that?

I don't profess to know anything more than the average joe blo but common sense and history shows us that when a stock is hammered due to an uncertain future (funding/debt) and collapsing iron ore price (until recently) IF the IO price keeps recovering/goes higher, and if we do get some of the financials sorted which we have for the interim near term anyway with the recent placement then we should see some sort of recovery.

There was an article recently in The Australian on Atlas and at one part of the article it talked about how Atlas shoot actually be congratulated for raising the amt of cash which they did raise then the disastrous crash in shareholder value over past months. Despite all this they still raised substantial cash. This article may also be partly responsible for generating some additional interest here on the domestic scene anyway. The Raisings at 5c - people who took this will not want to see their investments collapse in the toilet either.

Good luck to all whatever u do. I'm sitting/staying firm with 3.4c average fully aware not everyone is in this perhaps fortunate position and wish all shareholders both burnt and new al the best