As a PI and trader/investor I do find critcism of Hotfire quite unjustified.
I cannot count the number of times on HC that the details of a CR has been announced by a poster prior to the actual Co announ of the facts. I note that Askier did not get moderated for posting extra info...nor he should be. But maybe its who you are on HC???
It all very logical. 1. company needs money and does a few calcs on how much and number of shares and what price. 2. consults with prime broker. SI raisings are like a scalpel cut- quick and incisive. SSP are a drag 'em out affair. Discuss with broker. Maybe underwritten or not. If underwritten price gen. lower. Broker makes a few calls to key investors. Will they wont they. Looks like a goer??? then go into TH before info leaks that a CR is underway. Its all done quite fast. 3. PI documentation very simple. SSP takes alot longer. 4. Broker calls its favourite list of PIs. It does NOT matter now if price and other details leaks as share is in TH. All will be publically disclosed prior to coming out of TH and all can make their own judgement. This is where we are now.
Like I said this scenario has happened before on HC. Why there has been controversy this time ...i just dont know.
SSN Price at posting:
3.9¢ Sentiment: Hold Disclosure: Held
