while you're at it, ask them why always raise capital from...

while you're at it, ask them why always raise capital from sophisticated investors and private placings.

if they are going to continually dilute holders, the least they could do is offer shares to existing holders, perhaps underwritten by a cornerstone investor.

The disappointing thing for mine is that the shares clearly have a value between 0.1c and 0.2c, hence why a consolidation would be nice. sure the people that paid 0.2c may lose out(initially) after a consolidation as sp may settle at an equivalent of 0.17c or so.

Long term the increased liquidity and volume will more than likely see the shares trade higher.

How many people have stated they have orders in at 0.1c yet we werent offered a slice.

The VWAP is much closer to 0.2c than it is to 0.1c, so why raise at 0.1c? atleast if they had issued at 0.15c it might have went some way to moving the sp higher and still providing the sophisticated a nice profit at 0.2c

Personally i would have calculated the 20 day VWAP, issued new capital at that price(or 10% discount), prefereably to existing shareholders, then do a share consolidation of 10:1 so the share could actually trade at or near the VWAP.

The shares cant trade at 0.15c, but 10:1 the can trade at 1.5c

Is this company just a vehicle to pay the directors a lifetime annuity? i wouldnt mind if it was out of cashflow, but if you need cap raising everytime then perhaps a rethink of business model is warranted.