@Ducat. When a smart company goes to the market for CR it usually has up its sleeve future information that legally at the time is not price sensitive but has the potential to later bolster market sentiment if needed to support the price. At 2.9 cents they are confident that all rights will be executed knowing future release of pilot plant successful operations will hold the market price above.
If they waited 6 weeks they may have 1 missed an opportunity, 2 had no future news available to support the price and if market price was below strike price then all would buy on market as opposed to executing their rights.
A CR now provides more certainty.
Ann: Desert Lion Merger and Entitlements Issue, page-127
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Last
0.2¢ |
Change
-0.001(20.0%) |
Mkt cap ! $17.17M | |||
| Open | High | Low | Value | Volume |
| 0.3¢ | 0.3¢ | 0.2¢ | $6.705K | 2.515M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 170 | 186161089 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 98743778 | 56 |
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