Ann: Successful $15M Capital Raise and Media Speculation Response, page-27

I noted in MOD's announcement under section regarding 'undervalued offer', that "last cap raise was at .47 cents"..

Probably a little note for future offers,,, start here at least!

Some of our larger holders, Australian Super for one, did the bulk of their buying above 60 cents. You would suspect they won't be entertaining anything south of 50.


Also as Cash pointed out regarding volumes,,, it hasn't taken much to get us from last years highs down to 22 cents, so you would guess a bulk of the register is still needing a better offer to break even.  This will be tightly held against anything not fair value.