well well , just a run of the mill ASX company funding exercise. With no bullets to fire it is an expensve
exercise , in discount and cost. No company update, as promised in the trading halt doesn't help getting
this CR over the line. IMO it won't. There will be a sizable shortfall and with the SP heading to the dark side of 5 cents the rights trading will be non existent.
Its a sorry state, but LIT has nothing to hang their hat on at present, and with whats in the offing there is
nothing in the next 12 months. I note L-Max is listed as a recipient of funds, perhaps AG is planning now
what he intends to do with his West Australian rights after asx:LPD proves up the L-Max Tech .
The bottom line is the underwriting of the CR keeps the BOD with funds to continue the lifestyle.
all IMO.
LIT Price at posting:
6.7¢ Sentiment: None Disclosure: Not Held
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