Hi @1MRX To convert the IMUODs, I don't necessarily believe that we will need an announcement that would negate future CRs. I feel that I have an above average understanding of the IMU fundamentals, however my main strength lies in technical analysis. I have seen on the charts for quite some time (on the long term time frames) that a significant bull run is on its way. This is further backed up by the ever increasing fundamental pressure built up by the last 2 years of positive announcements with no real price movement. This divergence between price and value will need to converge at some point and I believe that it will begin sooner rather than later. With these things in mind, the announcement that causes this to occur may not be anything of significance (although it could be) - a case of the straw and the camel. So the price can easily get high enough to convert D's without a commercial agreement of some description. If all the D's are converted that would likely be enough to stave off a CR for perhaps a full cycle, but at least 9 months imo.
IMUOD
31-Aug '24
Strike at 45c
Issue: 158,262,521
Max conversion value: ≈$71.2mill
We would want to see a share price somewhat higher than the strike because holders who paid 10c would likely want to see 56c to be in the money (by 1cent) for their personal holding. 5c holder - 51c etc. For those who paid 30c, you would have to wonder if they would convert them without a significantly higher price. If we look at the chart below, the right hand side displays the cumulative volume at each price point, buy % in green and sells % in red (initiated by the buyer into the sell queue, or initiated by the seller into the buy queue). The total bar length being total volume. We see that a large percentage of folks paid 20-26 cents per option, then 9-13c per option, and the largest portion at 1-3c per. There are likely large amounts of holders in each category that still hold from those pieces, so when considering how much funds end up into the coffers, it will be definitely relative to the share price - if it gets up there in time at all.
Imuod mmonthly chart:
While a full allotment D conversion would bring in $70 odd million, this would only be a pause on the requirement to bring in more capital to continue operating. And that in itself is extremely beneficial, because it allows more time for the science and the company to bring the share price more in line with the value.
Its my opinion that another CR is not the concern here - the concern should be more about at what price the next CR would be in the absence of conditions mentioned earlier. I would rather the company raise $100 million at a dollar than here at 15 cents. Pushing back the CR time frame by all reasonable means allows for the best opportunity for share price increase and a higher CR price.
For thethe record, I have taken advantage of all the options: A, B, C and E, but I never went anywhere beer the D's. They were a risk I was personally not prepared to take. I genuinely hope that all D holders do well on them, because it means our SP will be significantly higher in time for any necessary future CR's.
I dont believe that the strike price or the 2:1 1:1 is related to the companies confidence in the share price. Options are simply an incentive to encourage participation in the CR and to bring in additional funds from the CR at a future date, at a higher price. Many folks hate the options, usually traders. Long term investors love them and take advantage of them as the opportunities show their face.
(20min delay)
