re: Ann: Share Placement & Extra-Ordinary Gen... Had a few days...

re: Ann: Share Placement & Extra-Ordinary Gen... Had a few days to think about it now and I am also seeing the SPP as a positive. There is some downside I think it is a clear admission we will not see PPA's anytime soon and of course it's a huge dilution as existing stock will only constitute only around 25% of the business.
It's almost a relaunch of the business, I hope they can get underwriters for the whole $3M as I don't expect shareholder takeup to be much over 30-40% if that. I will take up some but not the whole $15k limit.
It also makes PAXO a saleable proposition as the exercise price is 1c, bearing in mind the 10 fold reductions in holdings.
On the upside the business will be recapitalised to the tune of $3M, that will keep us in business for over 2 years at the current cash burn and looks good for potential lenders to have a decent amount of working capital.
I am hoping the SP will get a good lift on the back of the recapitalisation and really move when we get the PPA's which of course are imminent.