And the other thing that is disappointing is that they kept saying they would use some debt to fund the CAPEX to reduce dilution to the shares and they hired an equity finance guru to sort this out. And then they turn around and raise $110m. Much more than the $74m needed for start up. Especially as they had $25m in the kitty.
They did a Uturn on what they were going to do. So now these so called leaders do a complete backflip and raise at a heavy discount. And just give the shorters fuel to cover and make a decent profit as well.
Pissed off and not happy. The more I think of it, the more mad it makes me.
But it is what it is.
25 c is again a terrible outcome considering all the talk for the last 6-9months. About not diluting shareholders. I was purchasing stock in the 30s thinking this is undervalued so Ofcourse I am shitty about it.
I should have guessed this was coming. We had All those positive announcements and SP stayed depressed. Because the BEOT w€%#ers always know these raisings are coming in advance and so short it and wait for their fill. Whilst the retail end get shafted.
LOT Price at posting:
31.5¢ Sentiment: Buy Disclosure: Held
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