Agree Rooster, NLN until BMCG are issued their free commitment shares where we know they will be sold on the market.
I really wonder how quickly BMCG to push the SP down to the floor price, as you know WKT has very limited funds in the bank accounts and is now relying on the CN to pay for its working capital requirements, we have already seen WKT issuing shares under the previous floor price because they were unable to pay out BMCG, This is why they call it Death Spiral funding.
Honestly WKT would have been better off announcing the deal with TNR and Jinpeng than raising funds from instos, sadly I can see where this is going with the CN weighing down on the company.
BTW, do you know what happens to WKT if there isn't enough liquidity from trading, does BMCG just say sorry WKT we are not willing to convert US$1mil, you need to seek alternative funding?
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