re: Ann: Fully Underwritten Renouncable Right...
This is the capital raising they had to have, despite saying they were 'fine'.
My view on this is that this raising, together with future deal announcements (if they come through) should be enough to see the company through. On this basis it seems to me to be one of the last chances to get into this stock cheap - and at 5c it seems cheap - at least relative to the research piece they put out the other day.
My concern is why they would do the raising when they said they had enough cash already. Are they playing safe or are they concerned some of the deals won't come through?
I think 15c for options is fairly ambitious unless something amazing happens to re-rate the stock...? Offload if able? Then again as a 'free' rider on a 5c share I don't really care about the options.
So long as they keep the deals chugging out and this will be a great buy.
PYC Price at posting:
5.9¢ Sentiment: LT Buy Disclosure: Held
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