Any raising of $20m would likely be at a discount.But would they...

Any raising of $20m would likely be at a discount.

But would they actually do it when not forced to do so?

Previously they were forced, because PEP was breaking above the $75m temporary limit.

Now we no longer seem forced (unless the $50m PEP would not get extended, nobody would offer alternative financing, and we couldn't come up with the $50m).

Any further discounted raisings would be painful for the 2 directors (and us). Unless they have both come up with lots of cash, to be able to participate in full.


It feels like we've turned the corner - metrics moving in the right direction, consecutive profitable quarters. But people keep bring up a raising. I guess that means that sentiment is not yet positive, so there is room for the SP to turn when the sentiment truly turns positive (when people no longer expect a raising, but expect profits and a growing company).