Hi equityinvestor!
I can only answer your question in general terms, as I am not an expert in any way on corporate finance. Dunno knows a lot more than me and his comments on the matter look totally credible to me.
I am aware of the 'death cycle' attributes of CN's - I think mentioned by Arthur A - when they are used in some situations (e.g. 'lifestyle' companies) to artificially drive down share prices to maximise conversion value (and therefore dilution).
But this is not a 'lifestyle' company. It is on the cusp of finalising some very promising trials with the promise of broader roll outs at a time when the coffers a low. So it needed a raise. I have no doubt that RW (or DG with his large 'skin in the game') would not adopt a strategy that was not in the best interests of shareholders.
I am therefore assuming that given the short timelines to potential roll out (i.e. 6 months) and the small amount deemed to be required. that the management believed that a CN was at least as good as any alternative in the circumstances.
Time will tell, but that's the way I see it at the moment.
HMD Chart, page-507
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Last
2.5¢ |
Change
0.003(13.6%) |
Mkt cap ! $15.83M |
Open | High | Low | Value | Volume |
2.0¢ | 2.7¢ | 2.0¢ | $39.14K | 1.709M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 55000 | 2.6¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 329785 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 55000 | 0.026 |
1 | 345536 | 0.025 |
1 | 8461 | 0.022 |
1 | 50000 | 0.020 |
3 | 1109214 | 0.015 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 329785 | 3 |
0.028 | 150000 | 1 |
0.070 | 100000 | 1 |
0.100 | 1000 | 1 |
0.110 | 27000 | 1 |
Last trade - 15.49pm 18/10/2024 (20 minute delay) ? |
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