Somewhat agree, but we dont know when the effects of COVID will subside on the market.
We do know that Pershing and the likes have been accumulating massively and retail major net sellers as per the broker data for the last half a year or so. But still a lot to churn, for many the fear and possibility of facing paper losses is not worth waiting for the catalysts to make this company a star.
We are in no fear of raising capital anytime soon, lucky for us because many specs who are in a dangerous cash position who might have to raise in the next quarter or two will be absolutely bummed out of existence.
In hindsight now, it was a brilliant move from the BOD to get the Peloton Raise at 7.8c, that 5M of capital of additional capital was enough for us to last beyond the IHLOB exercising which would add 10M iirc and either way would last us long enough to survive COVID which cannot be said for many specs on the ASX. The original intent was to fasttrack activities related to the trials of course, but what a blessing for us to have that cash balance in this tumultous time.
IHL Price at posting:
4.5¢ Sentiment: Buy Disclosure: Held
