CIO have today just done a $3 million CR with sophs at 3 cents, after it recently had good news and touched 4 cents. The CO is growing and SH and the SI have confidence in the board, so the issue was oversubscribed and by doing it at a reasonable price (year low 2.3 cents), minimises dilution.
With XPED, When Marty came on board and looked at the books, he went "Crikey, we need to raise some money and fast". IMHO.
Presumably with SIs having heard of Soaring Securities and with his reputation preceding him, AL's attempts to do a CR with SI's fell on deaf ears, hence the absolutely disastrous dog's breakfast of the CN which destroyed the CO. IMHO whilst the SH who participated in the SPP were handsomely rewarded by the honour of paying the BOD's salaries for a few more months...
At the time it was all put down to the election of the 45th President of the USA, but then again our down ward spiralling SP has also been attributed by management to be due to absolutely anything and everything except its own incompetence. IMHO.
When approached by AL, the SI's response was likely to have been along the lines "Crikey, no $%#@ing way would we dream of trusting you with our money". IMHO
I have been thinking of cutting my losses and putting the remaining funds into CIO and BUD which are definitely on the up and up, but it is really hard to take a 90% plus loss, just in case the improbable happens and XPED's SP pulls out of its nose dive...
XPE Price at posting:
0.9¢ Sentiment: Hold Disclosure: Held
