Also oz, a large private placement was completed in February...

Also oz, a large private placement was completed in February -
New investors given a n'in' at 2.4c and given a free attaching option for the privelege(!)

Maybe some of those 42 million new shares are being leached out - as there is some selling going on - but after doing a placement in February to advance Termilone, and with the short tracking in the ann that wanty has just posted up - I can't see any more money being needed (i.e. would be unlikely to hear of more cap raising) and all I can think is that we are waiting to hear of progress on Termilone with the extra $mill that they got at the end of Feb.

Time will tell!!

Placement
The company has agreed to issue 42,000,000 ordinary shares (along with a 1:1 free attaching option) at 2.4 cents per share to raise $1,008,000.
The options will be a new class of options exercisable at 5 cents per share on or before 31 March 2010. The options will be subject to shareholder approval at a meeting scheduled to be held in April 2007. The company will apply to the ASX for quotation of the options.
Use of Funds
The funds will be used to continue the development of Termilone™ (formerly known as AP778), the company’s natural termiticide product and for working capital purposes.