Ann: Placement Raises $437,500, page-10

I technically hold but only because my small holding was diluted so much it was no longer worth selling.

Question for someone more knowledgable than me..

Can management be the 'Sophisticated Investors'?

Can they issue a raising to themselves, which they pay out of their own pocket, and use that cash to in essence...pay themselves?

For their benefit they get a few million extra shares to add to the scrap heap.

Just a thought. I would hazard a guess this falls under the 'insider trading' business so is likely not allowed. I just find it hard to believe anyone sophisticated would want to invest in this right now..