Hi all, Sorry about my typo on the previous post. This is my third post in HC. Attached is my correction.+++++++++++++++++++++++
To be fair to management, the strike price was agreed with La Jolla Cove last year during Sep - Oct 2009, when when VLA was trading in the range of 3c.
The share price has gained close to 120% with the current increase. We can go back and read the company announcements.
May be management could have built in the time value, and set the conversion strike price a bit higher, say about 5c if they can see the future prospect of any positive announcement.
We can check out VHL to see how management are setting option at 10c for under-writters of the recent 5c right issue. I doubt it if you'll ever see the 4c level again, let alone wishing for 3c ;0). Good luck to everyone.
I do own VLA...
VLA Price at posting:
71.0¢ Sentiment: Hold Disclosure: Held
