Is BLK Lanstead's Australian success story written by themselves? I had a quick check when they became involved on 26/6/14 when BLK share price was around 20c. Lanstead had a further agreement dated 30/10/14. Over the first 6 months of Lanstead's involvement the share price lost around 75%. I don't know how much influence Lanstead had at the time but it's not mentioned in the article is it? The rebound started when BLK placed with a different company, BW Equities.
THR AKK KFE KBL PRA are a few other stocks Lanstead have been involved with, check out the dates they became involved with each company and the charts. I remember PRR bucked the convertible note trend but generally these type of deals are from predatory lenders and not good generally for share price.
Lanstead get their stock at 26% or 7c per share discount or however they work it out plus no mention of escrow or how much was paid for initial funds or whether all the shares given in advance are freely tradeable.
The announcement headline was false and shouldn't be allowed in my opinion with the share price at 16c and an average price of exactly 27c needed to raise $6m at 20c.
WMN Price at posting:
15.0¢ Sentiment: None Disclosure: Not Held
