its at 1c, and worse its 1 -1 rights, partially underwritten.
this is corporate theft imo.
What it does puts a big slab of the company on sale. If you dont take up your rights, the underwriter can.
Who'd be so pissed off with this, that many wont trust the management, hence a large portion will go to underwriter .
at 1c, its reduced to shell value, and enter new money, flush old holders down the toilet.
Thats the sort of management, you dont trust with a shell. Replace the entire board, scrap cobalt , and start looking for something with feet under it.
Management that cant look old holders in the eyes with a 60% discount ? because thats where they could only attract new money? because their old form was so bad. ?
New money would be smart to just flip it on market, and run. Unless there is credible board appointed who dont shaft the existing holders.
And i'm not a holder, but it just stinks to witness. And GLTA.
TAR Price at posting:
1.5¢ Sentiment: None Disclosure: Not Held
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