as watso has previously mentioned, the consolidation would be a...

as watso has previously mentioned, the consolidation would be a precurser for more capital raisings, as the company is under capitalized. shareholders will be voting for an issue which will be in the order of 30% of the issued share capital, which if course is well in excess of what the company could do, without shareholder approval.

keep in mind that posters, after having spoken to the company, have assured others on these threads, that the company wa well funded to meet programs etc etc. - but watso has argued agaisnt this

of course a nice little earner for those who get the placements at a 80% discount, along with a free option. of course, existing shareholders are being shafted.. keep in mind that the company could make the issue available to the general public (by way of a prospectus issue) - which the company has previously done (forget when, but probably 2 or 3 years ago)



sorry - but that is the reality