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3.0¢ norwood systems limited

NOR does not have enough runway to last until May IMO

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RAllen50

929 Posts.

36

06/03/18

14:45

Post #: 31560832
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Originally posted by DoubleDown! ↑

I don't think it was a baseball analogy, PO said that the bases are loaded in a literal sense. It may explain why making sales is tough if you've turned your office into a baseball pitch.

I've mentioned before that a company can't issue more than 25% of its shares in any rolling 12 months. You can look up the calculation sheet for rule 7.1 and 7.1A.

Just say that the company wanted to issue shares on 15th April. There are 1.1bn shares on issue meaning 275m new shares could be issued.

In May 2017 129m were issued and in November 2017 another 64m were issued. That leaves around 95m shares that could be issued prior to May.

95m shares at 1.2c gets them $1.14m which as we all know is less than three months burn. If they wait and issue in late May they can issue 244m shares and raise $2.7m.

I think they will wait it out (they have just enough cash to get through to late May) and raise then, hopefully after some contact sales and a SP at or over 2c. A raise now will not stave off another raise in June/July. Better to wait for a pick up in sales and do just the one large raise later.

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NOR does not have enough runway to last until May IMO

NOR Price at posting: 1.6¢ Sentiment: Sell Disclosure: Not Held
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(20min delay)
Last 3.0¢		Change 0.000(0.00%)		Mkt cap ! $14.28M

Open	High	Low	Value	Volume
0.0¢	0.0¢	0.0¢	$0	0

Buyers (Bids)

No.	Vol.	Price($)
1	70000	3.1¢

Sellers (Offers)

Price($)	Vol.	No.
3.9¢	32258	1

View Market Depth

No.	Vol.	Price($)
1	70000	0.031
1	180000	0.027
1	148560	0.026
1	155000	0.025
2	375000	0.024

Price($)	Vol.	No.
0.039	32258	1
0.040	200000	1
0.042	23833	1
0.045	1534501	2
0.046	21760	1

Last trade - 16.12pm 18/10/2024 (20 minute delay)

NOR (ASX) Chart

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