Ok so first, they're listing in the US on Nasdaq due to increased domestic business exposure and opportunity in the US.
And you saying "How on earth is $1.5 million sufficient capital?" shows just how little research and understanding you have of the company or of their current status. Perhaps it would do you some good to do some digging before coming on here spouting the first thing that came to your mind. This is $1.5 million is the 2nd half of an already completed $1.5m raise. So it is a total of $3m USD for the purposes of funding their NASDAQ listing.
Look at Vlado’s track record on raising capital for the business. The first con note had a floor on it of .30 cents, at the time he funded it the share price was under .10 cents, so it was a massive premium. Those noteholders all converted in June this year as per the announcement @ .30 cents and the share price was 24.5 cents so MYQ once again got the debt extinguished at a premium.
The ACAM equity last year was $5.2m at .60 cents a share and MYQ was trading at 28.5 on the day they signed it. Another massive premium.
The new con note for the US pre-round has a USD$1.00 floor on it or a 25% discount to the NASDAQ IPO, whichever is HIGHER. So even if they list under USD$1.00 ACAM still has to convert at USD$1.00.
If he is contemplating any capital raisings it wouldn’t be something that hurts his holding or shareholders. But I don’t believe it's on the cards at all at this stage. In fact, you are welcome to contact the company and ask yourself if a CR is on the cards, they are very receptive to shareholder enquiries and very transparent in their direction.
This is only a basic start for you, I hope you'll do some more digging and come back with some more educated responses that will actually help facilitate some worthy analysis of the business rather than a lame attempt at downramping because you missed out on the recent run up.
MYQ Price at posting:
44.5¢ Sentiment: Buy Disclosure: Held
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