Ann: Capital raising under Share Purchase Plan , page-19

re: Ann: Capital raising under Share Purchase... Has anyone made contact with Dennis lately to see what the next steps are? Purely speculation on my part, but could it be that insto's have not backed it is much because of low cash position, hence the raise? Better yet, is Dennis giving current shareholders a shot at a discount before involving the bigger players and/ or breaking some good news to the market?

I haven't been holding as long as others, so maybe looking at this too optimistically.