The level of support for the CR was extremely low from existing shareholders (3.813B of a total of 11.5B being available being taken up (33%)) but they convinced new incoming investors to pony up $603,000 at $0.001 and it looks like Directors chipped in the last $1.082M to get them over the line.
A lifeline to shareholders, Carnegie staff, Fievez and the BoD.
They'll put Ottaviano, Davidson, Flynn and EMC behind them now and try computer modelling as a low cost way of buying themselves another 3-5 years of life with no expectation of needing to build anything going forward. Genius!
Can't wait to see the new transparency that has been promised from Fievez and the Board (mostly the same board that wasn't transparent in the past).
Might drop back in here in 9 months time when they are announcing another CR again (after the consolidation) and see how it is all going.
CCE Price at posting:
0.4¢ Sentiment: Sell Disclosure: Not Held
