We all now know what's going to happen with TEGO. All the talk about revising the price was just misguided hope. The options are worthless with no buyers.
A capital raise was always going to happen and my prediction was below 3 cents but Mr Turner managed to get some more salary money at 3 cents. Well done.
Now what do you think is happening leading up to the issue of the new shares this Friday? The guys will be working to keep the price up and then on Friday the selling will start. I predict the price will drop below 3 cents.
As for the SPP, they have just done this to deflect any argument that existing shareholders are being left out. I bet that the major shareholders will not support the SPP. My guess is that less than 50% of the shareholders take up the SPP.
In the end the company will have about $2.5 million by the end of September. I recommend you all look back at the past quarterly reports and see the last times they got money. They always ended with around $2 million in cash and then it dwindled to nothing.
Do you really think this time is any different?
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