re: Ann: Invion announces Rights Issue Entitl...
this placement bugs me.
The 21 Feb ann said 'existing shareholders' to be offered the placement. But now we discover its holders on 28/2, as it goes 'ex' on this date, record date of 6 March. Hardly 'existing'.
1) Any 'option' value to buy at $0.075 for holders on 21st Feb now had a value of ZERO (due to misleading ann), and there price of that option was probably small, but the market valued it at around $0.01 per share.
2) Some sellers were already in the mix selling 5% to finance their option to buy $0.075 later on.
3) the presentation dated 14/2 is more downbeat about inv103 timeline. Results in "2014", not 1 H 2014...
thats why I think we are at 0.077 now.
fairly annoyed because I was accumulating at around 0.090.
IVX Price at posting:
7.7¢ Sentiment: LT Buy Disclosure: Held
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