Ann: Penta update, page-5

I can't help thinking the so-called sophisticated investors who tipped into the last raise might know more than us monkeys (being fed peanuts)

Let's consider the timeline:

• on 19 July, CT1 announces a $576,592 placement.
• on 23 July, CT1 announces they've pulled the pin on the corporate transaction (a.k.a the Freestyle deal).
• on 9 August, CT1 advises that Penta owe us $463,443.

Pondering those three points, the July raise just keeps the lights on but doesn't support CT1 as a sustainable business. The Freestyle deal would've changed the business dynamics but "The Company has chosen to focus on other commercial andpotential corporate opportunities". If the Freestyle transaction was the only hope, the Board would've done the deal regardless of shareholder impact. And surely, given the proximity of transactions, sophisticated investors would've been given a heads-up on the business direction. They wouldn't have put in nearly $600k unless they were given something???

If the Board didn't have a plan to go forward with, cancelling the Penta agreement would be silly. Just image the questions being asked at the upcoming AGM as to why the company elected to cancel the Penta agreement and forgo nearly $500k? Nar... this is too cute, I suspect we might find out soon what those 'other opportunities' are. The Board wouldn't want to go to an AGM in this state.

Yak