Definitely an unexpected and somewhat disappointing announcement to be honest. With $6m+ cash in the bank and cash flow positive, to raise another $10m at $0.11c because of 'expansion into Europe, Canada and USA' is not a good enough answer. And to think that back in April I thought I was wrong when many posters claimed no CR is expected for another at least another 18 months and I thought this is the case.
I was hoping it might be Phillips related news that they might be doing a strategic collaboration or Phillips is investing in PCK. Maybe this will be the case when the official news is released but I highly doubt it.
I guess we shall wait and see what's in the news when it's released.
GLTAH and DYOR
Ann: Trading Halt, page-81
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