I also think 12 cents is too low. I think 14cents would have been fair CR amount, even 12.5cents would be better than 12. I know these things need to be discounted and they want full (or over) subscription and 12cents is probably what it took to guarantee this, but it cuts a lot of value from the company. They are going to need more money in the future, whether that comes from a CR or partnership it will come at a discount and we now approach that from a lower starting position. I can't see the share price going up for a while. Might even test 10c. We will have sideways-ish movement until the ace in the hole "customer contracts" start being announced.
As for Brett Mitchell's Cheiftain's involvement, since some people will always assume the worst it would be a better look if they stayed separate. To their credit they have been very upfront about it. It could be spun as a positive or negative depending on your slant.
Positive view: Maybe Brett doesn't want his Cheiftain's investors to miss out on what he knows (with insider knowledge) is a great opportunity.
Neutral view: SAS are paying someone 6% regardless so why does it matter that it's Cheiftain if everything is above board and has been disclosed.
Negative view: Maybe Brett is abusing his position and not acting in SAS's best interests.
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