Includes the underwritten amount. But not the underwriters fee. Leaves a balance of maybe $2.4m.
Shortfall shares could be placed with sophisticated investors, likely at a substantial discount. No real assets to sell. Back to the old funding model that puts sustained selling pressure on over a sustained period of time. It was a complicated model, but certainly wasn't in shareholder's interests.
No surprise it took the SP from circa 25c to where it currently sits, who knows where it may end up if they need to take this funding route again. No one likes an I told you so, but I was screaming from the rooftop back then and those that didn't act lost 5 bags for their misplaced loyalty.
Apart from the conjecture regarding the validity of LIT's many claims. This is bad news, clear as day for all to see. There is no uncertainty in those figures. It isn't good, that simple.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)