Here is my 2c worth....The positive is that 3 Directors have...

Here is my 2c worth....

The positive is that 3 Directors have provided an unsecured loan to the company for $655k - they now have some skin in the game which is good and it's in their best interest to get this one moving esp as they can convert the loan to stock at 1.1c

The negatives for me are many and the following-

1 - We don't know how long this money will last so what then? Many retail investors like myself have had enough as was evident of the last raise and prepared for this one to go under.
2 - The 2 largest shareholders inc the previous CEO who were given the boot declined to tip more money in, this is concerning for obvious reasons as there's clearly Louis on the payroll in another capacity who may have a potential gripe now with the company who got rid of him etc. This usually doesn't end well and as he holds the majority of stock is he prepared to hold and not sell any down at any cost just so he can get anything back, who knows right?

This line in the Announcement raised my eyes but I don't know if I'm misreading something-

'Subscriptions were received from retail shareholders in a greater volume that the Company was able to accept in accordance with s708 of the Corportations Act and accordingly not all retail subscribers will receive an allocation of shares under the Placement.'

Ummm didn't they try to raise a 1-2-1 placement raising something like $8M but they only got a fraction maybe 10% or so as most retail investors like myself said 'thanks, but no thanks'???