Ann: $6.0M Placement - Institutional and High Net Worth Investors, page-11

Surprised Patterson gets $0.6 million of the $6 million monies raised. Seems highway robbery. I mean there work would have gone something like this - all two minutes of it LOL:

Patterson: "Mr Institutional Investor would you like to buy some TMT"
Buyer: "How many"
Patterson: "Enough to raise $6 million at around 50cto 55c."
Buyer: Okay I will take the lot at 50c as been trying to buy on market and buying 12 million shares would have sent the price north of where it is if I did".
Patterson: "Done deal"
Buyer: "Done"

Well done and good luck to yourselves. Yes I know raising money in a CR is difficult, but when something is oversubscribed suspect it wasn't that hard to arrange the buyers, hence $0.6 million fee seems steep. Anyway, will be interesting what DFS looks like and the gas option you ultimately decide on. Plenty of room in the market for TMT and AVL, and good luck to both of us.

All IMO IMO IMO