I think that because of the complete surprise of the CR and the low SP it is highly likely that the Bond Holders have notified CTP that they do not intend to supply any more money.
Although I must confess, why it matters what price the shares are at is beyond me, they give a $mil and get a number of shares in exchange and then sell them at a profit.
20 or 30 % is still 20 or 30%
Any way , if I am correct and the money is no longer there, then CTP have done the only thing possible in the short term.
So, it gives me confidence that the company is able to move quickly to shore up finances.
CB
CTP Price at posting:
10.0¢ Sentiment: Hold Disclosure: Held
