What am I missing
2 weeks ago these shares were a paultry 2.7c a share.
Since then Mikoh have announced the following
21/10 - Further Orders In Thailand
21/10 - First orders in India from L'Oreal
28/10 - Successful completion of speed controls in Thailand
2/11 - Govt Enforcement of Public Vehicles for Speed Control
4/11 - New orders from Singapore
Whilst non of the above are company making deals they are all excellent announcements and show the huge progress that Mikoh is making through out Asia yet the share price has fallen yet another 15% since these deals and is now still only 2.3c with a constant heavy selling
My only guess and thats all it is, is that I have noticed that the company has made the first few convertible notes announcement payments to shares to La Jolla recently so maybe they are just pumping out their discounted shares as they get them as I beleive morley stated and assured us they would do many months ago.
Hopefully this is not the case as if so there is still well over $5 million worth of conversion shares to come in time which will surely act as a major handbrake.
What a shame if so. The great progress that Mikoh continue to make is being and will continue to be stopped dead in its tracks by the same people lending us the money. They already get their shares at a steep discount I believe if I am reading it correctly.
I cannot fault the company on the great progress they have made in the last 18 months and particully the last 2 weeks.
Whoever the constant seller is I hope they look back and regret however the previous warnings from morley months ago that I chose to ignore are now just making me think that perhaps he was correct in how this will play out.
Well done to Mr Sealy on some great announcements and progress
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