Ann: Trading Halt, page-44

Good post.

So they are after $25mil at 28cents. As that figure is basically the same amount as their current debt it is pretty clear the purpose of the raise is most likely just to pay down all their debt..... $25mil is an ambitious amount though and the MD will have to sell it hard.

The company is trading at 8 month highs with a lot of buying support. So I think it's a well timed cap raise from a shareholder perspective...... we'd all be pretty peeved if this happened a couple of months back.

I wonder if they'll tack on an extra retail element to it.