Swell Fib but PIE way more advanced has been on the search for 12 months and my reasoning why I reckon a deal is imminent is pretty hard to fault
1. In July a shareholder meeting was called to replace directors which was withdrawn shortly after. So my question is what were these people told that satisfied them? If you go to the effort of calling a meeting to replace directors you've obviously lost all faith in them that they will deliver. But then to change your mind so quickly you gave to wonder why?
Either these major shareholders are bipolar Or much more likely directors showed them something that was in the pipeline the restored their faith That's the only rational and logical explanation I can think of
2. Recently did a small placement at 6c when share price was 3.5c How often do we see placements being done? All the time BUT they are almost always at a DISCOUNT, very rarely are they at a PREMIUM.
Now again who in their right mind puts $800k I think it was into a company at an 80% premium when you can just buy on market cheaper?
Well the stock is illiquid (I should know I've been struggling to buy more) so it would be impossible to get such a holding without driving the price much much higher.
But this does not explain why sophisticated investors would be prepared to pay an 80% premium to get into a stock that's going nowhere
Again the only explanation I can think of that makes any sense is that they were shown what was coming in the pipeline and thought yes get us in don't care what price
DGI what industry code are they? Are they good to go or will they also need a recompliance?
