Disappointed in this CR.
Up until now they have claimed to have seen no need for further raises and claiming to have sight of being cash flow positive.
Now they raise at half the IPO with attaching option at the IPO price. They claim to have achieved break even EBITDA all ready so if they only need $2.5m (less the undisclosed costs) to become cash flow positive. Why the hell didn't they raise the funds through a SPP? That would have been a far less painful, allowing small shareholders (like myself) to avoid dilution should they choose. Showing some respect for those of us who have been in this for the long haul.
My previous confidence in ATV has been @ 100%, this raise has changed that to about 70% for me. In other words a total "kick in the guts" from my point of view!
ATV Price at posting:
12.0¢ Sentiment: Buy Disclosure: Held
