Underwriters always charge a fee and for small cap raises like...

Underwriters always charge a fee and for small cap raises like this it just eats into the final amount raised too much. They are looking to raise $5,000,000 with a steadily expanding consumer base and multiple income streams and I would gauge by issuing that figure, they already have solid investor commitments to cover close to that amount.
Looks like current SLT holders wont part for their shares at below 0.6 cents, or 20 cents post consolidation either, so that's encouraging.
What is interesting from the profit and loss statements and comments about the newly launched Rentbond scheme is how their income is increasing. With companies like this it is important to look at rate of growth, not just the actual amount in dollars. Very few internet companies make a profit to start with, but in time as they establish a market presence, monies will flow in.
IMO with well placed advertising and some initial private landlord incentives to get this huge sector fully utilizing this tailor-made rental site, it will have more listings on it than the current leader Realestate.com ( who wont allow 46% of the current Australian rental market to even advertise on their site).
With this there will be a steady influx of users, looking at the widest range of properties and closely related services and income and profits will follow.

Regards Madoff