Friday andtoday’s trades beggar belief; XTC’s announcement to the ASX said, in part, “Oversubscribed Placement of A$15.2m at$0.01 under-pinned by a cornerstone A$6.5m investment from US-based investors.”
Asmentioned before, I believe these kind of investors know what they are doing.
Then Friday’strading resumes and the prices drops by 20%.
What nobodyon this thread has commented on, as far as I can see, is XTC’s MD, RichardHenning, kicked in $120,000 of his own dough. I have to ask, Hello, is anyone breathing Oxygen? (Yep, all those who are quietly holding, and I am one)
The gossip,hearsay, bar talk today is the sell off on Friday was in large part due to oneholder, who according to one very unreliable source, just had to get some cashfast. It happens to most of us, some time, so no adverse judgement there. Andthat 35 plus million shares crossed on Friday and today looks like the supersmart have got in at a very nice discount.
Purely myguesses: Henning is a little pissed with the share price drop, but verycomfortable with his investment.
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