It's a company from hk and listed on main board. Go to www.sgx.com to check out its details.

The behavior of the company is simply a vampire. The company was listed in early 2002. In the short 3 yrs time after listing, it has raised fund FOUR times from market as follows:
1), the IPO
2), issued warrant
3), share placement in 2003
4), share placement in 2004.

The company has collected tens of millions of money. However, it is still short of cash. It borrowed US$22 mil from bank in last Dec.

I think it's interesting to find out how the companies spent so much money. I am also interested to know.