Ann: Extension of Closing Dates for SPP and Placement Acceptance, page-15

@Bullspike i think it's a fair assumption that the SPP won't be fully subscribed.

Looking at the last annual report there were 2,898 shareholders of CVT x the maximum allocation of $15,000 = $43.4mil that could be raised via the SPP.

I think it will be a good result for the company if they can raise $1mil - $1.5mil via the SPP + $400k from the placement to a handful of existing shareholders. All Ted is looking to do is extend the cash runaway to give them time to continue to deliver & further support tender negotiations with a stronger balance sheet.

When you actually work out the number of people required to take up their full SPP to raise the $1m - $1.5m, it's bugger all!

Looking at the charts, it looks as though we are heading to test resistance at the 5.6c - 5.7c region. Once we clear this, we should see the share price move on up pretty quickly back for a run to 8c.