I know people interpret things differently - and I admire the @pseudoname optimism, but when I see "voluntary administration" and "winding up the company" in the same announcement. I can't glean any positive vibes.
SP is down 27% this morning to just .08 cents (well below the SPP value) and 20mil shares have changed hands tends to indicate that holders are voting with their feet and are showing that the announcement has not been received very well.
If this trend were to continue, then it is obvious that the SPP is heading for failure. I don't even believe that the BOD members would be willing to throw their money into the pot and buy any BIT shares at the moment.
What is troubling is the indirect admission that C14 has failed to attract interest from the biotech sector (no mention of C14 in the announcement). Forget about secret negotiations (that excuse is largely BS), if C14 had delivered anything, this would have formed part of the announcement - if only to pique the interest of holders to invest further funds via the SPP. In addition, the announcement could have at least stated that C14 was actively engaged in its job for BIT - that was also absent.
You do raise a very accurate assessment on the wording - it did sound like a "threat" - either buy shares in the SPP or risk your entire investment becoming worthless.
Sadly, I actually believe it is largely worthless now.
BIT Price at posting:
0.8¢ Sentiment: Sell Disclosure: Not Held
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