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The delusion around Directors' participation in the February 23...

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26/07/23

16:58

Post #: 68995932
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Originally posted by Quiltman: ↑

Howdy.

Sorry for the confusion.

I was referring to the last two CR's, I also do not expect a local component on this US IPO.
I expect these 2 raises included close associates & friends as they needed working capital to cover 6 month delay in Pulse FDA clearance and decision to move from OTC to a NASDAQ listing, pushing out the large capital injection by 12 months.

Feb 2023 CR

Placement led with strong demand from domestic institutions, family offices, and sophisticated investors with Director support to secure firm commitments to raise $4.50 million at $0.30 per share;

August 2002 CrPlacement led by Directors with strong demand from domestic institutions, family offices, and sophisticated investors securing firm commitments to raise $4.33m million at $0.30 per share;

Expand

The delusion around Directors' participation in the February 23 placement continues.

I can see an enormous issue for Directors IMO if they don't participate and it all goes to pot as one of the company's disclosures appears defective
i.e. the 9 Feb 23 announcement re completion of capital raising and their "cornerstone support" to the placement, or the Form F-1 re Related Party Transactions where they don't disclose this commitment?

CDX Price at posting: 19.5¢ Sentiment: None Disclosure: Not Held
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