Ann: Completion of $5.4 million share placement, page-42

Gass. The problem with this cr is the dilution, at a very very low price when it is not needed.

I understand the track acquisition and that the company needed it to grow and become profitable.

But that was over and the working capital issue has also been resolved with the cr in sep last year.

So why raise a cr to boost short term share price when you will have the same effect in the 2-3 years, without the dilution? If you were a long term holder which I know you are, and obviously dom is, you should be more concerned about the long term share price - not the next 12 months but at least say in 3-5 years. I can guarantee you the share price would have been much higher in 3 years had they not issued a share price.

Of course the only explanation is that they want to get rid of the debt in the next 12 months and get the share price as soon as possible for two reasons. One is the number of outstanding options (majority expiring next year ) so they can profit from that. Second is a planned acquisition they have in mind 12-24 months from now and a cr is required say 18 months down the track.