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17:22
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Originally posted by csupek
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Well done SIS for maximising SHs values. As expected, CR again at ATL (hence was the capping recently). The fear of a raise became real again for holders. Not surprising. As always in the last 5 years. Probably, this is not the last one either. They choose the worst option to raise despite knowing the fact how the previous ones turned out. The raise getting worse and worse each time for existing holders. This is not a sign of progress for me. Wondering who are giving them financial advices. Either they are completely incompetent or it is deliberately done. The results are the same for SHs. With this desperate raise they have not only acknowledged they are in desperate financial situation but also they do not see much potential SP reaching 4c before the options expire (probably would not be a bad thing letting them expire to stop further dilution, already diluted enough). They also priced themselves at $5M MC suggesting that they do not see more value here either. Interesting why Sylvania or Intellihub have not made an offer at this MC yet? It would be pocket money for them. They are talking about commercial transactions for years now. All their "marketing effort" have not sparked any interests either in owning shares. No one is buying shares on the market and they proved to be right (better to wait for the next raise with a heavy discount). Wondering also about DT's appointment to the board. It was only about convincing sophs investors to participate in the last CR a year ago? Anyway, his magic has not worked on SIS so far. The SP lost more than 60% since his appointment and we have a raise now at half price of last year. Who thought so? Definitely not the sophs investors who rushed to participate in the previous CR at 0.002c. Anyway, it means he will likely not get paid by the incentive options for whatever he has or hasn't done. What an ambitious plan/plot was a 4c striking price. It will be 0.4c soon instead. Regarding the recent updates, do not mistake interests, awareness, partnerships, momentum and potentials with cash receipts in a red hot sector. Recently, they got indeed some progress but way too slow and small. Sadly, the money raised each year was just enough to pay the upcoming bills. They have never raised enough to grow for some reason. Why they did not raise more at a higher price and try to grow years ago? Every CRs in the past were heavily oversubscribed as stated. Instead, they choose to raise next year at a lower and lower price to maximise the SHs value... Great strategy...... what made them going down this path? Whoever made those decisions should be accountable for it imo. I know nobody will take any responsibility. In the meantime, worth checking out how much money their competitors have raised and progress they made during this time. Why they have never changed things around? They still do not have a new CEO after one year. Probably it would not hurt to have someone in the team with a proven track record in scaling up tech companies successfully. Same team, same performance, same outcome; worse and worse raises each year. For the next CR they would need to do a reverse split first though. Directors stopped buying last year and also did not converted their options (except DT converted some of them). Why would they have done it? They knew what is coming; raise at 1c. The trust has gone for me. Otherwise, all good, they remain very confident...maximising SHs values....as always....this year, next year or the year after, the ship might turn or not. Long way to go... Meanwhile, existing holders should be happy with SIS still being listed.
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DT converted $75K worth of options last year which were well out of the money at the time. He has also bought on market and also supported this current raise for $50K. He is being paid zero for his NED board role unless the SP goes up 4x in the next two weeks which is unlikely.
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