I'm not so sure about the issuing of new shares around these prices William ....
"As part of Rhinomed’s growth and capital management strategy the company plans to hold a shareholders meeting to address several key issues that are important for this stage in the company’s growth cycle and to reposition the company’s share register. These initiatives continue the company’s strategy to position itself to take full advantage of key strategic initiatives that have been nurtured over the past 18 months. Further details will be available in a Notice of Meeting to be sent to shareholders".
I think they have somebody to come on board as a cornerstone. Which makes Rangers post from last night quite interesting. Sounds like an AGM notice is on its way.
Clearly Ron Dewhurst is bridging the gap in the interim and it looks like most sales via stores are on 90 day terms.
In the next quarter $36k is estimated for "other expenses" and staff costs to increase $110k.
I wonder if there will be a new CFO (or some combined role) plus the additional sales people.
Regardless I think they have a cap raise or cornerstone investor in the wings. They might be out to raise somewhere between $5-6m (based on the $36k of other costs).
The word "reposition" is interesting and could also mean several things - cornerstone and/or consolidation.
RNO Price at posting:
1.7¢ Sentiment: None Disclosure: Held
