I agree, this does not look good. As I mentioned before, Ron Perry is not someone I have a lot of faith or trust in. He certainly does not seem to have the small investors' interest at heart. No real explanation for why this is now necessary; no real plan as to what to do with the proceeds; etc. etc. - just a one liner "...to incur exploration expenditures and for working capital purposes...". Even that, of course, is wrong since "incur" is the wrong word, meaning "to come into or acquire". They meant to say "cover" or "pay for". This is really sad - what a bunch of amateurs. Pretty sad!