what did china offer us , page-12

Ok Beacon, I just saw your position and sentiment which said none and no stock held.

The other firm never offered a price, they said that given the share price at the time they could do it for $x.xx....and that is what they should have said. The price of a raising is set at a discount at the time you start the book build (ie; after a roadshow). They can't promise any price because it depends on the price of the share at the time of the book build.

Austock said the same thing. the same indicative price in fact. Again the price was set at the time of the book build less a discount. In Austock's case the share price at the time of the book buil was 43 cents, however given the interest in the stock after the roadshow they were able to get it away at 40 cents. while not ideal, not a bad discount to market.

I have no reason to believe the other broker would have been able to do it better or worse than Austock. If you do a placement you have to give a discount. We would not have asked the other broker to do it any quicker or slower than we asked Austock. the fact is we decided not to start "Plan B" until we were sure that other interested parties did not make our cut off date. When they didn't make the cutoff date we engaged Austock the next (working)day. The starting dates and ending dates would have been the same for either broker.

You clearly have been told something differently, otherwise you wouldn't have asked the question.

So why do you believe we should have raised funds at a higher price with another broker? Not an inquisition mate, just want to know how I can set your mind at ease.

Cheers, Tony.