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1.5¢ ecs botanics holdings ltd

Ann: ECS to execute expansion plans following $4m Placement., page-48

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wasko

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27/02/24

11:32

Post #: 72616276
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Originally posted by wolfk: ↑

Fortunately or Unfortunately, the ECS raise is quite dissimilar to other ASX small cap raises. Most small caps don’t raise during the following conditions: Positive cash flow, rapidly increasing revenue, relatively low SP (most will see a natural surge in SP given the aforementioned conditions before the raise). ECS raises red flags with the conditions and trading activity leading up to the raise. I’ll be quite surprised if there wasn’t external forces keeping the SP low so that Bells and associates could fill their boots with the freebies.

It doesn’t take away from having a path of rapid expansion, just that raising funds this way is just uneconomical and negligent of existing shareholder values. I still haven’t seen a solid response from management as to how they were unable to secure funds any other way. Director loans, expanding funding facility (which I doubt they approached), waiting until after HY results for a greater SP, raising at a premium where all shareholders see ECS should be.

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Have a listen to the recording of the webinar yesterday, Nan mentioned they don't have the assets for NAB to lend against.

ECS Price at posting: 2.3¢ Sentiment: Buy Disclosure: Held
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(20min delay)
Last 1.5¢		Change 0.000(0.00%)		Mkt cap ! $19.32M

Open	High	Low	Value	Volume
1.5¢	1.5¢	1.5¢	$4.256K	288.8K

Buyers (Bids)

No.	Vol.	Price($)
2	156384	1.5¢

Sellers (Offers)

Price($)	Vol.	No.
1.6¢	200000	1

View Market Depth

No.	Vol.	Price($)
2	156384	0.015
20	5720225	0.014
6	868461	0.013
6	1323346	0.012
2	1225000	0.011

Price($)	Vol.	No.
0.016	200000	1
0.017	721685	3
0.018	1072655	4
0.019	414353	6
0.020	1137471	6

Last trade - 15.14pm 08/08/2024 (20 minute delay)

ECS (ASX) Chart