Also a list of the top-20 holdings going back to before the 610m issued to 180Markets' clients ?
That broker got a free 10m but it's the 600m issued to their clients that would be good to track if poss.
If the two lists can be compared, we could see if there's been any change there (in the top20) which might relate to increasing their holdings via 180Markets considering they said they were approached by a 'Cornerstone Investor'.
Let's not forget that this cap-raise was totally unnecessary when they'd declared to already have had $10M in the bank at end Sept -HOWEVER as reported in the media, there's something really amiss with that money only having earned $2,000 interest in 3-months !
Considering AGMPL/Pnina Feldman's attempt to grab a ridiculous 70M shares as a goodbye gift via a shareholder vote at the, yet to be held, Jan '22 AGM - (postponed from November courtesy of an extension given to listed companies) - would possibly fail, this new 600m voting-shares (in mates' hands) could be a big help in having that vote succeed.
I think it'd be prudent to take a close look now at what percentages of holdings are in play.
With the decreased market-cap of late, there is also the risk of 'cheap' takeover considering around $12M cash ($10m + $1.8m c/r) would come with it too.....(again, IF all the cash is there) ...
Another little alarm bell went off for me also when they reported about moving into the new warehouse. They made it a point to say they had to pay 2 months of the lease upfront.
Why report something like that which is totally normal ??
Even domestic rentals have the same structure though it's usually 1st mth advance plus bond - same thing as we know.
What they should have said is how much the monthly rent/lease actually is.
There's also a little question as to that great big elephant in the room.... MANAGEMENT SERVICES !! Who takes over from Pnina's own company, AGMPL ?? Another 'related entity' such as Yeshiva ?
The convenient delay of the AGM gives them an extra two months of planning which pretty much sums up the whole theme here - and it's not particulary planning for the sake of good business practice, new contracts or responsibility to shareholders with full disclosure - it seems more like planning the next strategy in the battle against shareholders and the funding we have provided in good faith to grow a profitable business.
2022 will indeed be interesting ...
CGB Price at posting:
0.3¢ Sentiment: Hold Disclosure: Held
