One of the numbers you now need to be watching closely is the outstanding options which expire 30/6. There are: 2m directors' exercisable at 30c = $600K 33.1m exercisable at 20c (many probably seed capital holders = $660K So that is a total of $1m plus to be shelled out over next two months. In bear markets people don't like writing out new cheques - and the banks won't lend. So logically some will sell sufficient fully paid to cover their exercise. I did at $1.30 at the end of March. Doubt anyone will do that exercise below $1.00 as you start to lose too much paper. So there is a potential overhang of $1m of stock plus whatever ANZ and the others are dumping on the market .... ideal time for the buyer who is munching away at 1m shares plus a day. Hang on in there .... new highs post 30th June seem assured once market mess and option exercise period is over. And bear in mind the brilliant Western bankers have just tubed US$1 TRILLION - so they are a bit short of the readies and no doubt forcing some clients to reduce borrowing which inevitably also impacts the stock market. A buyers paradise.
UMC Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
