It is quite strange that it is done as a rights issue for...

It is quite strange that it is done as a rights issue for existing shareholders only. I assume they have sounded out a few major stake holders on their interest. I probably would have preferred they opened it up to anyone with perhaps a preference to existing shareholders, as it would be good to get a few instos or brokers on board.

To be honest its ambitious, but in saying that if they only raise $12.5M or half I would be fine with that as long as they don't lower the price of the offer. As said above, one would think they are pretty confident of getting a full subscription.