Of course the price is under the SPP, it was always going to go that way. This share has been kicked in the guts for 2 years now. There hasn't been one piece of good news in the entire time. The company has spent all its time in the courts. There has been delay after delay. The directors salaries are killing the company's balance sheet and they haven't even taken a wage freeze or cut. The SP is at an all time low. Why the hell would they go and raise an SPP at .8 of a cent during a period of such uncertainty and offer 238 million shares, when they could offer less for a higher price later.
I have some more questions?
Why was FMG interested in the first place
Why has the company managed to get funding this whole time.
Why are SI's still willing to invest in a company at a higher SP
Why has a Director tipped in 100K of their own money at a higher price
Why is there so much fighting over the block in the courts
Why wouldn't the Directors look after the believers with cheap shares prior to the fog clearing and the company moving forward.
All I can say is decide for yourself. I have seen this scenario before and I remain positive.
DYOR, MYOD, BNBY or any other stupid acronym
OBL Price at posting:
0.7¢ Sentiment: Hold Disclosure: Held
