Sad to say I am in agreement with you. Straight in the bin... Does that mean the company will die a slow death?
Surely its not underwritten? I didn't read the details, but had a sqiz at the colourful paper with pretty pictures on it... nice but not what we really want.
They have chopped and changed their position on where the company is headed a number of times, I wish they would just start drilling their hole and stop wasting our money, and diluting our ... equity.
Finally on the plus side... they have a new CEO or relatively new, and they do have the Jorg Baughmesiter.... as their main draw card. So i guess time will tell what's going to happen going forward. But I agree it's a bit rich having a capital raising to fund their salaries and wages.
They possibly were waiting for the GT industry to be successful and then hoping a consolidation and a buy out of their "assets" would occur.
Pissed off shareholder.
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