re: Ann: NewSat Share Purchase Plan (SPP) off...
What a beauty. They didnt want to get institutional funding because they are confident that the SPP would be taken up. So he'd rather dilute shares by another billion to reward shareholders than take up a short-term loan, which, if paid back within a year would probably cost the company no more than $30 or $40K.
The guy's a spin artist. Two reasons you don't go for a loan arrangement, 1. is they wont get it 2. due diligence requires alot more work to get the bank loan than simply whipping up an SPP.
The excuses are pitiful. AB basically told investors, and this is from the mouths of posters in this board, that there would be no more share issues. There have now been two since. Don't believe a word that comes out of ABs mouth. 10 years of it. $100mill worth of losses.
NWT Price at posting:
0.5¢ Sentiment: None Disclosure: Not Held
