I know the management team at this company and believe they are competent. They have priced the issue at a very attractive price so that existing shareholders won’t want to miss out and prospective shareholders recognize the potential upside and want in. It won’t surprise me if a cornerstone investor tries to get in with a big piece at these prices.
I have calculated the market cap pre raising to be less than $1.5m and post raising to be close to $17m.
Post raising the company will have $8m in cash and $20m in tangible assets
At 0.2cents the price is less than NTA
