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No worries from my POV, FWIW if I couldn’t have taken part in the SPP I would vote no to Resolution 3 also, if this management can’t get any deals done by EOY then we’re screwed."
So you're trying to convince the forum to vote YES despite the the fact getting these options has almost wiped 50% off your total investment?
hmmmm
Did anyone note the trading a week or so prior to the CR being announced?
We were in a very positive uptrend. It wouldn't have taken much to move the the stock into the 4c range but then someone started selling and by the time the CR was announced we were around 3.6c. I hadn't heard of anyone selling. Some big holders were topping up at 4c.
Did someone get wind that they could get 2.5c and a double up of options in the CR?
These same people could've then sold the heads and free carried the options.
I've never before seen a broker push an SPP so hard. Something doesn't up.
Why push these options so hard when there is no immediate financial benefit for the company?
After this CR the only way we're going to get the options in the money is if we do a deal, and then we certainly won't need the unnecessary dilution which would come from converting these options
What upsets shareholders most is the strike price of the first ranch of options. 3.5c was lower than when the CR was announced.
The company was ill advised and as
@captainblood pointed out, not even all the directors are supporting the options
2.5c was a gift. The options are just taking the piss
It's put the company in a 'perilous' position
Best battery tech in the world and we're only valued at 50m AUD with a cash-burn of almost a quarter of that amount each year
Didn't Panasonic just pay Sila something like 70m UAD upfront just to help them 'develop' their battery?
We got $60k last year
2 years into the Olympic Teams tenure and we've had 2 CRs and no deals
