Common sense would have/should have stopped him from raising at 1c, given that the past traded price was 0.6c. CHM is not in a position to raise at a premium and this would have turned into a laughing stock if they had even so much as hinted at doing that.
Why?
Two times they asked the market (existing shareholders like you and me) for cash at a discount and they fell short.
Twice they hinted at a CR at the other end of town and it didn't come through.
Meantime, Lind is horting shares at a premium discount, further diluting existing holders with the option to keep doing that as funding is needed.
CHM is cash poor full stop.
So many people came on here complaining about: 1. Hopper grabbing more shares at a discount, 2. Lind buying more shares at a further discount, 3. Existing holders not being offered same terms/getting diluted into oblivion.
This now is the chance for EXISTING holders once more to support the company. I thought about it and this time I will take up my full entitlement and will apply for more.
The whining and complaining about Hopper et al simply trying to get more and more shares - where has that left him today? Red on every single purchase todqy at 0.5c. A bloody genius and evil mastermind...
Anyways, everyone hrer can decide for themselves: support the company this time around or keep complaining about how unfair it is. Only one of these options extend the cash runway of the company.
Definitely not financial advice. Although, looming at PH, the above couldn't be any worse than the advice he has received on CHM so far.
CHM Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
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