This is what has me scratching my head. They have $2.6m cash in the bank and access to a further $2m from NAB. So, what is it that would require potentially more than $4.6m? This is where my head goes:
- They were approached by someone (institutional investor, large Cannabis company, who knows) looking to take a stake in the company and are willing to pay a premium for the shares which would still work out cheaper than if they had to buy on market
- Something has happened and the company hasn't been forthcoming with investors but needs to shore up capital ASAP - I strongly doubt this is the case as I received an email from Nan last week saying the crops were doing very well
- NAB is looking to remove or decrease the facility due to other bad loans in the industry *cough* CAN *cough*
- There is an opportunity that exceeds their current cash reserves and facilities
- We will never find out, the company will issue the standard discount and say something stupid like "for general working capital"
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Last
1.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.32M |
Open | High | Low | Value | Volume |
1.6¢ | 1.6¢ | 1.5¢ | $4.499K | 293.3K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 1754665 | 1.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.6¢ | 594992 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 1754665 | 0.015 |
13 | 2957998 | 0.014 |
10 | 2065638 | 0.013 |
6 | 2090846 | 0.012 |
2 | 1525000 | 0.011 |
Price($) | Vol. | No. |
---|---|---|
0.016 | 594992 | 2 |
0.017 | 721685 | 3 |
0.018 | 1002390 | 7 |
0.019 | 859853 | 6 |
0.020 | 846158 | 6 |
Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
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