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Ann: Renounceable Rights Issue, page-89

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GiddyYup

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04/03/25

10:28

Post #: 78121630
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Originally posted by GiddyYup: ↑

Okay so excluding the one in a trillion chance they have had a personality implant for the webinar and / or they release info about actual progress by C14 which doesn't make the majority of us scoff like most of BITs claims now do, here is how I see it playing out in the coming week.

From late tomorrow holders will have the right to buy a huge amount of new shares off market for 0.003. They will not have to commit or part with their cash for more than 2 weeks whilst they prey for a reason to want to do it. Whilst the cash is still in shareholders pockets they can avoid the risk of the SP falling further, ie below 0.003. As such we have to ask why would any holder be buying on market over 0.002 after tomorrow?

Given the above tomorrow is ex date so I'd expect the on-market buying at 0.004 and possibly 0.003 to dry up whilst people decide if they want to buy at 0.003 off market in coming weeks in the CR with less risk.

Excluding unforeseen events or a mystery buyer its hard to see much reason for on-market buying above 0.002 from Wednesday until the flood of new 0.003 shares hit the open market.

The problem if the stock does fall to 0.002 then the CR price becomes 50% above the current market price.

Who steps in to prop up the price and try to make the CR appealing? I'm assuming the underwriter would rather get the underwriting fee and not have to actually buy any of this stock which they then need to get rid of somehow. I assume they want / need to SP to stay above 0.003. But how? The very act of offering a billion new cheap shares is like a boat anchor around the neck of the SP.

Expand

And there you go. Upon open almost all of the 24m buyers that were sitting at 0.004 late yesterday went bye bye.

BIT Price at posting: 0.4¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 0.3¢		Change 0.000(0.00%)		Mkt cap ! $3.318M

Open	High	Low	Value	Volume
0.3¢	0.3¢	0.3¢	$1.829K	731.6K

Buyers (Bids)

No.	Vol.	Price($)
45	31075875	0.2¢

Sellers (Offers)

Price($)	Vol.	No.
0.3¢	15955760	21

View Market Depth

No.	Vol.	Price($)
39	27915876	0.002
34	94302000	0.001
0	0	0.000
0	0	0.000
0	0	0.000

Price($)	Vol.	No.
0.003	15607062	19
0.004	16987080	16
0.005	6690600	5
0.006	1200000	2
0.007	572733	2

Last trade - 14.53pm 25/07/2025 (20 minute delay)

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