No need for a CR at All. The had $19 million cash and cash equivalents at 30 June and raised $5 million in July which looked like they didn't need it but wanted Sargon on board.
They have not been running down cash over the past couple of years.
Really lets logically look at where they are:
Ex CEO has around 11 million shares , probably cannot sell as he would have been privy to performance until a week ago. So probably in a closed period. It really depends on him - I wont buy right now because is this a bargain price or may the overhang keep the share moving down and I am not privy to the half year. So I am waiting for information.
If he holds, few actually do after a disagreement. So I expect that there is a large pool of shares looking for a home at some point.
So effectively I am waiting for things to unfold and I expect many holders here are doing just the same.
I would also have liked to see John Larson remain on the board as well. I think he is a great asset to the company.
I am also not a lover of the stockbroking side so want to see that unfold as well. So too many moving parts.
SEQ Price at posting:
26.5¢ Sentiment: None Disclosure: Held
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