daytrades march 24 afternoon, page-163

After a good start to the day with OKU, nothing really worked with brokerage and small losses on NOD, GGG & a couple of others.

OKU - I was surprised that the volume dried up after the first hour because of the amount of shortfall shares issued (27m).

I also noticed the company used an indicative capital raising price of 12c in their announcement, a bit optimistic considering it was trading at 5.4c pre announcement.

At the indicative price of 12c, the company is valued at around $60m, assuming 500m shares on issue, which seems excessive for where they are at the moment.

James Henderson became a director of OKU in November, with expertise in capital raising among other things. The shortfall recipients at ADO & OKU must be pretty happy at the moment.