why the big discount, page-11

The cap raising price is shocking and the only thing that can explain it is when instos look at the revenue numbers and expense lines this is the price they have nominated to buy more shares to keep the company afloat. Even at 12 cents they would need to only issue 650 million shares and 20.5 to 12 cents is still a big discount. At 14 cents 580 million shares etc etc. The brokers would have also worked on the value of the shares with the lower capital base and would have come up with a higher value than 8 cents.