has raised $1,000,000 via a private placement of 30,303,030 new...

has raised $1,000,000 via a private placement of 30,303,030 new fully paid ordinary shares in the capital of the Company (Shares) at an issue price of $0.033 per Share The Placement was made to a sophisticated investor known to the Company.

lol what guy in there right mind would pay such a premium for his shares, it makes no sense at all
imo its just a scam to bump up the SP so the company can then raise additional funds at a inflated SP
the ASX really should be asking some questions here.