Thank you Mike999 and GiveUsAChance - you've added a dose of reality. Management have actually been very financially prudent in ensuring the ongoing capitalisation of Invex.
We must recall that Invex were planning to release their Phase 2 results at the end of the 1Q of 2020.
If they had gone through with this, they would have raised at a very unattractive price around ~$0.60c. Instead, they dutifully spent time refining the top-line data to release at mid-end 2Q and used the additional time to brainstorm additional routes of funding at a higher price(sophs/instos). The recent surge in price has likely reflected market conditions and a push to maximise the cap raising price. $1.30 is much more solid and reflects a good premium to the 30/60/90 day averages.
As holders, it's frustrating that it's dilutionary, but when considered against the greater narrative, the thing that will sink us is not extra shares, but a lack of capitalisation. Best case scenario would have a portion to retail investors, but given the time constraints and choppy COVID-19 markets, I don't blame management for choosing the most secure way to raise capital.
IXC Price at posting:
$1.50 Sentiment: Buy Disclosure: Held
