coffey now paying dividends, page-15

Hi Camden
Could I get your opinion on some financials of COF?
I read your post on capital raisings and the historical SP performance since those raisings, a few weeks back.
COF had 122M shares outstanding in the FY11, with that amount increasing to 211M FY 12.
Short term debt deceased from 47M in 2011 to 1M in 2012.I assume that is where the capital raisings funds were used? To pay down debt?

Given your concern about capital raisings do you think I should be concerned that the share price may "falter" given COF's outstanding share No today?

Also, i see the book value of the company @ 77 cents per share.
Does this give you some comfort in holding up the SP?

Thanks