325m new shares @ an average of around $0.093 issued to Belgravia - that represents around 19% of the company. (yes, the note hasn't been converted)
They are now in control of this stock, simple. if they want it to move, it will move. If they want it to sit below $0.01, that's where it will sit. Saba basically just sold this company.
Expect to see Geoff Lord brought onto the board in some capacity - this is not bad news as he clearly has a track record with businesses in this space. Should have seen the writing on the wall when the announcement re the convertible note was issued
If they've got so much business in the pipeline, why are they bringing on a firm with experience in helping companies to manage costs? They're talking about acquisitions this year with revenue of $1m - $3m - that's all well and good but not if the company is drowning under the weight of its own issued capital and structured debts (outstanding director loan and very favourable convertible note of which 10% interest pa is payable while the note is outstanding). Excites' numbers have to EXPLODE from here to justify a share price above where it is now - that's a reality that we need to get comfortable with as holders. Whatever acquisitions they are alluding to (even throwing the "AI" into the announcement was clever), they would need to be game changers that introduce revenue streams will in excess of current contracts.
I'm happy to be wrong as someone who holds a decent size position in both fully paids and options from higher prices. Just so its clear I have skin in the game. The waiting game will likely continue from here.
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Last
1.1¢ |
Change
0.002(22.2%) |
Mkt cap ! $16.22M |
Open | High | Low | Value | Volume |
1.0¢ | 1.1¢ | 1.0¢ | $132.1K | 12.59M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 8000000 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 11187842 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 8000000 | 0.010 |
8 | 6314109 | 0.009 |
13 | 6082697 | 0.008 |
8 | 1981577 | 0.007 |
4 | 1685609 | 0.006 |
Price($) | Vol. | No. |
---|---|---|
0.011 | 11187842 | 6 |
0.012 | 5988361 | 5 |
0.013 | 4803715 | 5 |
0.014 | 1071428 | 2 |
0.015 | 1324179 | 2 |
Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
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