Yeh 100% right about the prospectus and too be fair 99% of shares that do a cap raise, the SP falls below that price anyway. I guess the main grievance is clearly CLEE offloaded knowing what was happening and then takes part. I know ASX will never do anything about insider trading wise but it still stings. Secondly, really thought we'd have the 13m to last us a bit longer so that a raise could be done at a slightly higher price. But could be that the deal won't materialize before we run out of cash.
Either way, I'm glad it wasn't 10 mil bot much we can do now. But for me its a mark against management. I'm sure if the provide a detailed plan and source a line of credit in the US, then no one will be complaining about a time they could have bought at sub 2c
But again, if this is how they are going to play with CRs, I will be watching more closely who is selling.
OVT Price at posting:
2.2¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)