as like most of you on here, im baffled as to why the company has chosen to do this.
i can only assume that its the first play in the larger scheme of achieving financing... i.e. 'you scratch our back and we'll scratch yours'... we give them a cheap parcel of shares, they make sure financing is no issue...
in fact, if that is the arrangement, cdu could use the cash to buy back $20M worth of shares, get the registrar almost square again and giving the insto a larger portion of the company, all the while knowing full well that financing is secure...
win win
lets just wait and see who the insto is...
CDU Price at posting:
$2.23 Sentiment: Buy Disclosure: Held