Ann: Azure Completes Placement, page-12

If I had to guess, I'd say the options were necessary to raise such a large amount. Remember that 0.30c is 0.015c pre-consolidation, and their previous CR was @ 0.038c pre-consolidation (0.76c today), so they've lost a lot of value in that time.

Even though 0.30c may appear cheap now, if the market experiences any more volatility like that of a few weeks ago, cheap may turn to expensive. Until they get a lot more ducks in a row, this is just another trading stock.