These CR are normally not done lower than 15-20% below last price or 10-15 day vwap, therefore raise price should not be much below 0.7 cents.
BUT it really does not matter if raise is at a lower price as long as PART of the funds raised go to extinguish the RIDICULOUS ALTO convertible notes. The continuous monthly issue of shares to ALTO & the subsequent sale of shares by ALTO have had a much more depressing affect on the share price than Covid-19.
IF funds are used to extinguish the ALTO notes this stock should have a major re-rating.
EN1 Price at posting:
0.8¢ Sentiment: Buy Disclosure: Not Held