I was a top 20 holder in another stock for 4 years. I had 30M shares with a purchase price of 3 cents. The sp went to 25 to 35 cents and in this range for 8 months. Same rhetoric as here, finance not a concern customers lining up. On no bad news shorters piled in and pushed the sp down to 18 cents and then they did a $45M Capital raise at 15 cents. When i quested the Chairman at the AGM about why they did not raise when the sp was stable in the high 20’s for months on end he stated “ there was no appetite from the market to invest at 30 cents”.
So dont be surprised if you are correct, Insto’s set the raise price in these penny stocks…
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