If you go back through the posts Austravel, it was either Elguido or GB that suggested this could be on the cards about the time the ASX query came out.
It was suggested that as they dont have a lot of shares out on issue (I am not sure how many that is), that a cap raising would be okay for them, not sure about 1c price though. I would have thought that a 3c option would have been an appropriate discount to last price but I am not in the know.
KOG Price at posting:
2.0¢ Sentiment: LT Buy Disclosure: Held