Yes. I think I have said a few times over the years that I could not disagree with this idea "the SP doesn't matter just the final; sale price" more. I think we just witnessed a perfect example of why this view is naively floored: You can't do a CR when you have ignored the SP because the CR always depresses the SP and you need the public to believe in the story to withstand that hit, or they won't contribute. Further you dilute less when you raise at a higher SP than lower. In this case the amount the wanted to raise was just enough to make the impact of participants trying to sell the shares after a decent profit impossible as the number of shares to be offloaded ( 200mill + ) was simply too high for the daily trade level of 10 mil or so: it would be 20 days of dumping which would suppress the SP for potentially months. The only ones who could consider this would be the long term faithful - not the sophisticated investors they targeted, because you don't get to be that wealthy sitting in a stock for months on end, unless you are an angel investor - but they are usually looking for the pre-IPO stock where they will cover 10 stocks to make a killing on 1 and will fund then for a few years, but even they don't usually hang there for 10+ years.
This is a company that is exclusively funded by CR's so it is absolutely dependent on it SP. This is precisely the kind of firm that needs to pay extreme attention to its SP as it will need to keep going back to ask for more via CR's until it is sold.
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Yes. I think I have said a few times over the years that I could...
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Last
2.5¢ |
Change
-0.002(7.41%) |
Mkt cap ! $51.52M |
Open | High | Low | Value | Volume |
2.7¢ | 2.8¢ | 2.5¢ | $209.8K | 7.883M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
33 | 4321394 | 2.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.7¢ | 232639 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
33 | 4321394 | 0.025 |
10 | 2072348 | 0.024 |
6 | 1977172 | 0.023 |
6 | 4205453 | 0.022 |
7 | 1440144 | 0.021 |
Price($) | Vol. | No. |
---|---|---|
0.027 | 232639 | 1 |
0.028 | 875006 | 7 |
0.029 | 1364248 | 6 |
0.030 | 5003415 | 13 |
0.031 | 1411247 | 5 |
Last trade - 16.10pm 31/07/2025 (20 minute delay) ? |
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